What is planning through benchmarking and how it be used by the owner of a local bookstore?

Planning through benchmarking involves comparing your bookstore's performance against that of similar businesses to identify areas for improvement. The owner of a local bookstore can use benchmarking to understand how their bookstore is performing compared to competitors in terms of sales, inventory management, customer service, and marketing strategies. By analyzing these benchmarks, the owner can make informed decisions to optimize their business operations and stay competitive in the market.