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Benchmarking

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Benchmarking

  1. 1. CONTENTS ABSTRACT INTRODUCTION DEFINITION NEED OF THE STUDY OBJECTIVE OF THE STUDY CONCEPT OF BENCHMARKING TYPES OF BENCHMARKING CONCLUSION Powerpoint Templates Page 2
  2. 2. LOGO ABSTRACT: The introduction part deals with the concept of Benchmarking. This paper well aware types of Benchmarking and study deals Need/Purpose, Scope, Objective, Methodology, Presentation, Limitations, Core Concept and finally Conclusion for benchmarking.
  3. 3. Company name INTRODUCTION Benchmarking is a process that allows organizations to improve upon existing ideas. In order to eliminate myths and misconceptions about benchmarking it is important to know exactly what benchmarking is, the different types of benchmarking.
  4. 4. DEFINITION OF BENCHMARKING ³Benchmarking is simply the process of measuring the performance of ones company against the best in the same or another industry´(Stevenson, 1996).
  5. 5. To know what is the concept of benchmarking To know what are the types having NEED benchmarking To know where your competitors stand. The study is done based on the objective to gainOBJECTIVE a better understanding of the concept of benchmarking and how the organizations performing with this measurement.
  6. 6. CONCEPT OF BENCHMARKING Benchmarking is not a complex concept but it should not be taken too lightly.Benchmarking is basically learning from others. It is using the knowledge and theexperience of others to improve the organization. It is analyzing the performance andnoting the strengths and weaknesses of the organization and assessing what must bedone to improve.
  7. 7. REASONS FOR BENCHMARKING There are three reasons that benchmarking is becoming more commonlyused in industry (Boxwell, 1994). They are: Benchmarking Benchmarking is Benchmarking has the ability to a more efficient speeds up bring corporate way to make organization͛s Americas improvements. ability to make performance up improvements. as a whole significantly.
  8. 8. Benchmarking Process Benchmarking is not just making changes and improvements for the sake of making changes, benchmarking are about adding value. When using benchmarking techniques, an organization must look at how processes in the value chain are performed (Stevenson, 1996):
  9. 9. Benchmarking Process‡Identifying a critical process that needs improvement. ‡Identify an organization that excels in the process, preferably the best. ‡Contact the organization that you are benchmarking; visit them, and study the process or activity. ‡Analyze the data. ‡Improve the critical process at your own organization.
  10. 10. TYPES OF BENCHMARKING Actually the organizations following performance measuring types are Process benchmarking Operational benchmarking 1 Financial benchmarking 2Functional benchmarking TYPES Benchmarking from an investor perspective Strategic benchmarking Performance benchmarking Product benchmarking
  11. 11. Best practice Best practice the term best practice refers to discovering and implementing the most effective-or best-means for a business to attain its objectives successful. Strategic Process benchmarking benchmarking aStrategic benchmarking Process benchmarking helps a business improve its its fiscal development or overall performance. overall stability for measuring Internal Competitive benchmarking benchmarking A business often uses Internal benchmarking competitive benchmarking to involves studying other take stock of its role in its departments and functions industry or marketplace as it within a company Productivity benchmarks relates to its competition. This Benchmarks refer to the goods or services a company produces and how well they are produced.
  12. 12. Benchmarking can be as complex as re-engineering or as simple as thumbing through the quarterly reports of organizations and making comparisons. Although organizations must useConclusion: benchmarking with some caution, it can be informative and foster a spirit of openness and cooperation from indirect competitors

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