Benchmarking Approach to- A step Ahead

By

Pooja Sinha
Lecturer
MBA Department
Saroj Institute of Technology and Management
Lucknow
 

Benchmarking is a pendulum oscillating between a rang, one end of which represent standard and the other end the product or services.
------------------------------------------------------------------------------------------------------

Concept and Dimensions of Benchmarking:-

Environment is changing rapidly due to global competition around the world. An organization has to make aware with new trends to adopt change to be update  so bench marking is playing crucial role for improved performance to the best in class enterprises. it is a continuous process of comp airing enterprises strategy. In other words, " It is moving from where we are to where we want to be."

The concept of benchmarking in spite of the fact that every enterprise is virtually interested in this phenomenon. Benchmarking defined as "Measuring our performance against that of best in class companies, determination how the best in class achieve those performance level and using the information as a basis for our own company's targets strategies and implementation."

The best practices are approaches to get inspectional results for the use of innovative technologies or human resources. Benchmarking has unique dimensions such as help in reducing uncertainty, promoting board dialogue deals with best practices allows learning from enterprises of others and results in the best practices which creates opportunities for all.

The evaluation of bench marking:-

The evaluation of benchmarking is not exactly known however modern benchmarking was initiated by rank Xerox 1980 which is supposed to be in this field. It is also essential to look for benchmarking is a tool to achieve business and competitive objective. It is a powerful and effective tool when used for the right seasons with strategy. Benchmarking also help enterprises to develop those strengths and reduce weaknesses.

Objectives of Benchmarking:-

The main objective of benchmarking is the needs to establishes credible goals and pursue continuous improvements in the direction where the practices need to discover. In any enterprises types of benchmarking that have emerged are performance, process and strategic. The performance involve pricing, technical, quality and features where as and employee training. The strategic benchmarking includes competitive advantages and market success.

Benchmarking as part of implementing best practices:

It is important to identifies best practices as well as to determine how such practices can be adopted by the enterprises, which can be represented by the following chart.

Pooja Sinha
Lecturer
MBA Department
Saroj Institute of Technology and Management
Lucknow
 

Source: E-mail April 30, 2008

Articles No. 1-99 / Articles No. 100-199 / Articles No. 200-299 / Articles No. 300-399
Articles No. 400-499 / Articles No. 500-599 / Articles No. 600-699 / Articles No. 700-799
Back to Articles 800 Onward / Faculty Column Main Page