Iscuss whether benchmarking to achieve greater efficiency should lead to greater profitability-please see order instructions for more information

Assignment Question
Kerimodou et al. (2013:655) report the results of their research as follows:
This study was designed to identify the relationship between technical efficiency and profitability in the Greek meat processing industry for the period 1994-2007 by using the new performance decomposition model proposed of Chen et al. (2009). Results showed the firms with a higher technical efficiency were not usually the best performers in profitability.
Discuss whether benchmarking to achieve greater efficiency should lead to greater profitability.
Approaching the question
Students are reminded that whilst some questions may very evidently refer to a particular unit they are all designed to span issues across the entire module. A full answer to the question will require reflection on the issues that you have encountered throughout the module. It is important to bear in mind that the content of your answer will depend on the argument that you wish to put forward in answer to the question and not solely on the concepts that the question explicitly identifies.
You should start by looking at the original article. Do not be too concerned if you cannot follow the methodology and data analysis but consider the sample and results. What kind of efficiency are the authors talking about a and does it relate to efficiencies sought through benchmarking?
This question is asking you to consider the relationship between benchmarking and profitability. How is it described in the literature, and what evidence can be gathered for that relationship? Is efficiency central to both benchmarking and profitability?
You should start with the course materials but you may wish to extend your reading wider a perhaps by looking at some of the studies in Benchmarking: an International Journal.
You may use examples in your answer a either from your own experience or from the literature.
You should avoid quoting excessively from material published by consultants and practitioners that is widely available on the Internet unless you critically evaluate the claims that are made. You are likely to find much more relevant material in academic journals.
Assessment Criteria
See further guidance above. This assignment will ideally show students ability to critically evaluate an academic article, and their ability to relate theory to practice.
Ioanna Keramidou, Angelos Mimis, Aikaterini Fotinopoulou, Chrisanthos D. Tassis, (2013) Exploring the relationship between efficiency and profitability”, Benchmarking: An International Journal, Vol. 20 Iss: 5, pp.647 a 660