Benchmarking is the process of systematically comparing business processes and performance metrics to industry best practices in order to identify areas for improvement. There are four main types of benchmarking: internal, competitive, functional, and generic. Benchmarking typically involves scoping the process to benchmark, selecting benchmark partners, determining metrics, collecting and analyzing data, identifying performance gaps, setting improvement goals, and monitoring progress. Outsourcing is the practice of contracting external companies to perform business functions and services. Many companies outsource to lower costs and focus on core competencies. Common outsourced functions include customer service, IT, and back-office support. Benchmarking and outsourcing allow companies to improve performance and reduce expenses.
Changing role of hrd within organisationsBibin Ssb
HRD aims to continuously develop employee competencies to achieve organizational goals. It maximizes similarity between individual and organizational goals to develop an organizational culture of collaboration. HRD covers all employee levels and categories through a continuous, planned process of improving skills, knowledge, values and commitment based on present and future job requirements. It helps management develop strategic plans, streamline practices, strengthen recruitment and training, increase focus on competencies, and strengthen accountability. A learning organization facilitates organizational learning through a supportive environment, concrete learning processes, and leadership that reinforces learning. The role of HRD is changing to support the business, learning, knowledge sharing, training coordination, and developing new HRD practices.
Information technology can provide competitive advantages for organizations by improving efficiency and reducing costs. It allows organizations to better serve customers through mass customization, online services with reduced wait times, and improved communication. While hardware, software and IT infrastructure can be easily copied, an organization's managerial skills in effectively applying IT to business processes can be a source of sustained competitive advantage if they are difficult for competitors to replicate.
This document discusses frameworks for human resource development (HRD) processes. It describes a common framework involving four phases: needs assessment, design, implementation, and evaluation ("A DImE"). It provides details on each phase, including defining need, types of needs assessments, levels of need assessment, designing objectives and selecting delivery methods, and evaluating training impact and costs. Kirkpatrick's four levels of evaluation (reaction, learning, behavior, results) are also discussed. The document presents models and best practices for conducting effective HRD from needs identification through evaluation.
The document outlines a hierarchy of strategic intent for organizations, beginning with vision which describes the desired future state, followed by mission which defines the organization's purpose and business. Goals and objectives then provide the framework for achieving the vision and mission, with objectives specifically defining how goals will be met and providing standards for performance measurement. The document discusses the importance of vision, examples of effective vision and mission statements, and key considerations for setting goals and objectives that are specific, measurable, and help guide strategic decision making.
Unit 1 perspectives in human resource managementGanesha Pandian
This document provides an overview of human resource management (HRM). It discusses the evolution of HRM, including key contributors like Elton Mayo. It defines HRM and covers its objectives, functions, policies, and challenges. These include equal employment opportunity laws, affirmative action, and the role of HR managers in strategic partnering. The document also discusses computer applications in HRM like human resource information systems. Finally, it briefly introduces human resource accounting and auditing.
Compensation plays a key role in organizations by attracting capable employees, motivating superior performance, and retaining employees over an extended period of time. It helps create a strong human resource base that enhances productivity, efficiency, and quality. A suitable compensation plan is critical for achieving the right human resource infrastructure with skilled employees in the right jobs. Compensation also plays an important role in retaining top talent, motivating employees to maintain high standards, and boosting morale to achieve goals.
Ethics of Organizational Development - Organizational Change and Development...manumelwin
RESPONSIBILITY TO OURSELVES
Acting with integrity and Authenticity.
Striving for self-knowledge and personal growth
Asserting individual interests in ways that are fair and equitable.
The document discusses managing human resources in the 21st century. It covers several key topics:
1. The changing role of human resources, which includes strong HR leadership, a future orientation, flexibility and creativity, and delivering value.
2. Major influencing factors on HR in the 21st century, such as workforce size, employee expectations, workforce composition, and environmental challenges.
3. Emerging HR practices like human capital management, the importance of knowledge management, intellectual capital, and organizational learning capabilities.
Changing role of hrd within organisationsBibin Ssb
HRD aims to continuously develop employee competencies to achieve organizational goals. It maximizes similarity between individual and organizational goals to develop an organizational culture of collaboration. HRD covers all employee levels and categories through a continuous, planned process of improving skills, knowledge, values and commitment based on present and future job requirements. It helps management develop strategic plans, streamline practices, strengthen recruitment and training, increase focus on competencies, and strengthen accountability. A learning organization facilitates organizational learning through a supportive environment, concrete learning processes, and leadership that reinforces learning. The role of HRD is changing to support the business, learning, knowledge sharing, training coordination, and developing new HRD practices.
Information technology can provide competitive advantages for organizations by improving efficiency and reducing costs. It allows organizations to better serve customers through mass customization, online services with reduced wait times, and improved communication. While hardware, software and IT infrastructure can be easily copied, an organization's managerial skills in effectively applying IT to business processes can be a source of sustained competitive advantage if they are difficult for competitors to replicate.
This document discusses frameworks for human resource development (HRD) processes. It describes a common framework involving four phases: needs assessment, design, implementation, and evaluation ("A DImE"). It provides details on each phase, including defining need, types of needs assessments, levels of need assessment, designing objectives and selecting delivery methods, and evaluating training impact and costs. Kirkpatrick's four levels of evaluation (reaction, learning, behavior, results) are also discussed. The document presents models and best practices for conducting effective HRD from needs identification through evaluation.
The document outlines a hierarchy of strategic intent for organizations, beginning with vision which describes the desired future state, followed by mission which defines the organization's purpose and business. Goals and objectives then provide the framework for achieving the vision and mission, with objectives specifically defining how goals will be met and providing standards for performance measurement. The document discusses the importance of vision, examples of effective vision and mission statements, and key considerations for setting goals and objectives that are specific, measurable, and help guide strategic decision making.
Unit 1 perspectives in human resource managementGanesha Pandian
This document provides an overview of human resource management (HRM). It discusses the evolution of HRM, including key contributors like Elton Mayo. It defines HRM and covers its objectives, functions, policies, and challenges. These include equal employment opportunity laws, affirmative action, and the role of HR managers in strategic partnering. The document also discusses computer applications in HRM like human resource information systems. Finally, it briefly introduces human resource accounting and auditing.
Compensation plays a key role in organizations by attracting capable employees, motivating superior performance, and retaining employees over an extended period of time. It helps create a strong human resource base that enhances productivity, efficiency, and quality. A suitable compensation plan is critical for achieving the right human resource infrastructure with skilled employees in the right jobs. Compensation also plays an important role in retaining top talent, motivating employees to maintain high standards, and boosting morale to achieve goals.
Ethics of Organizational Development - Organizational Change and Development...manumelwin
RESPONSIBILITY TO OURSELVES
Acting with integrity and Authenticity.
Striving for self-knowledge and personal growth
Asserting individual interests in ways that are fair and equitable.
The document discusses managing human resources in the 21st century. It covers several key topics:
1. The changing role of human resources, which includes strong HR leadership, a future orientation, flexibility and creativity, and delivering value.
2. Major influencing factors on HR in the 21st century, such as workforce size, employee expectations, workforce composition, and environmental challenges.
3. Emerging HR practices like human capital management, the importance of knowledge management, intellectual capital, and organizational learning capabilities.
The document discusses compensation surveys, which are used by organizations to determine prevailing market rates and design competitive compensation strategies. It outlines the importance of compensation and benefits in motivating employees and reinforcing organizational culture. It then describes the objectives and types of compensation surveys, including standard and customized surveys. Steps for conducting an effective salary survey are also provided, such as determining an appropriate sample, comparing data accurately, and evaluating a survey's validity.
The document discusses strategic intent and the balanced scorecard approach to strategic management. It defines strategic intent as the purpose and direction an organization aims to achieve. Key elements of strategic intent include vision, mission, goals, and objectives. These elements form a hierarchy with the vision at the top as the long-term goal, followed by the mission which articulates how the vision will be achieved, then specific goals and objectives with metrics to evaluate performance. The balanced scorecard framework translates strategic intent into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
This document discusses the key components of an effective performance management process: performance planning, execution, assessment, review, and renewal. It outlines the prerequisites of understanding an organization's mission/goals and employees' job descriptions. Performance planning establishes objectives, standards, and development plans. Regular feedback during execution is important. Assessment incorporates self, manager and other ratings. Reviews evaluate past performance and set new goals. The cycle renews with insights from previous phases. The process works best when all components are implemented well and clearly linked.
BASIC PRINCIPLES OF MANAGEMENT AS PER ANCIENT INDIAN WISDOMAsnad Ashraf
This document outlines some basic principles of management from ancient Indian wisdom:
- Each person has divine potential and can achieve miracles through self-development.
- A holistic approach sees all of humanity as one and aims for individual and social welfare.
- Both subjective qualities like courage and objective outputs like money are important.
- Karma yoga means prioritizing duties without attachment to rewards and doing work for salvation and society's good.
- Yoga Karmasu Kaushalam means excelling at work with devotion without being work-obsessed.
- Cooperation is a powerful motivator and united effort leads to prosperity over excessive competition.
Introduction of Organisation Behaviour
Nature and Scope of OB
Challenges and opportunities for OB
Organization Goals
Models of OB
Impact of Global and Cultural diversity on OB.
This document discusses behavioral performance management and organizational rewards. It covers learning theory and behavioral theories like classical and operant conditioning that can be used to analyze and manage employee behavior to improve performance. Classical conditioning involves pairing a neutral stimulus with an unconditioned stimulus to elicit a conditioned response. Operant conditioning associates behaviors with consequences to reinforce or reduce behaviors. The document also discusses organizational reward systems, with money being the dominant reward traditionally used to motivate performance. However, non-financial rewards are also discussed as ways to recognize employees.
Types of hr strategies - strategic human resource management - Manu melwin joymanumelwin
Because all organizations are different, all HR strategies are different. There is no such thing as a set of standard characteristics. But two basic types of HR strategies can be identified. These are:
Overarching strategies; and
Specific strategies relating to the different aspects of human resource management.
This document provides an overview of compensation management. It discusses that compensation includes both direct monetary benefits like salary as well as indirect non-monetary benefits. An effective compensation system is designed based on factors like job analysis and market surveys. It is an important part of human resource management that helps motivate employees and improve organizational performance. The various components, types, and importance of compensation management are outlined.
Introduction to Organisational BehaviourISAAC Jayant
Organisational behavior is a field of study that investigates the impact that Individuals, Groups and Structure have on behavior within organization for the purpose of applying such knowledge towards improving an organisations effectiveness. (Stephen. P. Robbins).
Golden Parachute - Human Resource Management - Manu Melwin Joymanumelwin
A golden parachute is an agreement between a company and an employee (usually upper executive) specifying that the employee will receive certain significant benefits if employment is terminated.
Job evaluation is a systematic way to determine the relative worth of jobs within an organization. It aims to establish a rational pay structure by comparing jobs based on factors like skill, effort, and responsibility required. The main methods of job evaluation are ranking, classification, factor comparison, and point method. Ranking simply arranges jobs in order of value, while classification groups similar jobs into predefined grades. Factor comparison and point method assign scores to jobs based on how they rate on important compensable factors. While objective, job evaluation still involves some subjectivity and may require periodic review.
High Performance Work Systems (HPWS) are management systems that aim to increase employee empowerment, skills, and incentives to improve performance. Key elements of HPWS include self-managing teams, training, flexible work assignments, and reward systems. Implementing HPWS provides benefits like higher productivity, quality, and employee satisfaction for organizations and growth opportunities for employees. HPWS can be applied in manufacturing, services, and the public sector.
The balanced scorecard is a strategic planning and management system developed by Kaplan and Norton to align business activities with organizational vision and strategy. It adds non-financial metrics to traditional financial measures to provide managers a more balanced view of performance. The balanced scorecard translates strategy into objectives and initiatives, communicates goals across levels, and enables strategic learning through real-time performance measurement and feedback. It covers four perspectives: financial, customer, internal processes, and learning and growth.
Systematic approach to understand present state of organization and Specifies nature of problem and causes that provides basis for selecting strategies that involves systematic analysis of data for organization development.
This document discusses the strategic role of human resource management. It covers key topics such as the evolution of HRM, traditional HR vs strategic HR, objectives and functions of HRM, and emerging issues in HRM. The document emphasizes that HR can provide competitive advantage when employee talents are valuable, rare, difficult to imitate, and well-organized to improve business performance. It also highlights the changing role of HR from administrative to strategic partner in organizations.
Performance-linked compensation (PLC) is a form of payment from an employer to an employee, which is directly related to the performance output of an employee and which may be specified in an employment contract.
The document discusses auditing an organization's human resource development (HRD) system. It defines an HRD system and lists its key subsystems like training, performance appraisal, and career development. It then provides areas, dimensions, questions, and documents to audit for each subsystem. The goal of auditing is to assess how well the HRD system is building employee competencies and commitment to help the organization achieve business excellence. An effective audit can identify areas for improvement to better meet the organization's needs.
Career Based Performance Management SystemAvinash Kumar
The document discusses career-based performance management and career development initiatives within organizations. It outlines how matching individual and organizational needs through strategic career management can benefit both employees and organizations. Some key benefits include increased employee motivation, loyalty and productivity, as well as attracting and retaining top talent. The document also discusses tools for career planning like self-assessments, counseling, and development programs that help employees advance their careers while meeting business needs.
This document provides an overview of benchmarking as a technique for assessing a firm's performance against competitors. It discusses what can be benchmarked, the different types of benchmarking, methodology, advantages, and key drivers of success. The main points are:
1. Benchmarking involves comparing a firm's performance metrics, processes, strategies and practices to other high-performing companies to identify areas for improvement.
2. The types of benchmarking include performance, best practice, strategic, internal, competitive, functional, and generic benchmarking.
3. Common methodology involves identifying benchmark partners, collecting data on key processes and practices, analyzing performance gaps, and implementing changes.
4. Benefits include improving processes
This document discusses benchmarking and provides details on:
- The purpose of benchmarking is to improve products/processes to better meet customer needs by learning from others.
- There are different types of benchmarking including internal, industry, competitive, and process benchmarking.
- The benchmarking process typically involves 7 stages from identifying key success factors to gather information and compare performance to implement changes.
The document discusses compensation surveys, which are used by organizations to determine prevailing market rates and design competitive compensation strategies. It outlines the importance of compensation and benefits in motivating employees and reinforcing organizational culture. It then describes the objectives and types of compensation surveys, including standard and customized surveys. Steps for conducting an effective salary survey are also provided, such as determining an appropriate sample, comparing data accurately, and evaluating a survey's validity.
The document discusses strategic intent and the balanced scorecard approach to strategic management. It defines strategic intent as the purpose and direction an organization aims to achieve. Key elements of strategic intent include vision, mission, goals, and objectives. These elements form a hierarchy with the vision at the top as the long-term goal, followed by the mission which articulates how the vision will be achieved, then specific goals and objectives with metrics to evaluate performance. The balanced scorecard framework translates strategic intent into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
This document discusses the key components of an effective performance management process: performance planning, execution, assessment, review, and renewal. It outlines the prerequisites of understanding an organization's mission/goals and employees' job descriptions. Performance planning establishes objectives, standards, and development plans. Regular feedback during execution is important. Assessment incorporates self, manager and other ratings. Reviews evaluate past performance and set new goals. The cycle renews with insights from previous phases. The process works best when all components are implemented well and clearly linked.
BASIC PRINCIPLES OF MANAGEMENT AS PER ANCIENT INDIAN WISDOMAsnad Ashraf
This document outlines some basic principles of management from ancient Indian wisdom:
- Each person has divine potential and can achieve miracles through self-development.
- A holistic approach sees all of humanity as one and aims for individual and social welfare.
- Both subjective qualities like courage and objective outputs like money are important.
- Karma yoga means prioritizing duties without attachment to rewards and doing work for salvation and society's good.
- Yoga Karmasu Kaushalam means excelling at work with devotion without being work-obsessed.
- Cooperation is a powerful motivator and united effort leads to prosperity over excessive competition.
Introduction of Organisation Behaviour
Nature and Scope of OB
Challenges and opportunities for OB
Organization Goals
Models of OB
Impact of Global and Cultural diversity on OB.
This document discusses behavioral performance management and organizational rewards. It covers learning theory and behavioral theories like classical and operant conditioning that can be used to analyze and manage employee behavior to improve performance. Classical conditioning involves pairing a neutral stimulus with an unconditioned stimulus to elicit a conditioned response. Operant conditioning associates behaviors with consequences to reinforce or reduce behaviors. The document also discusses organizational reward systems, with money being the dominant reward traditionally used to motivate performance. However, non-financial rewards are also discussed as ways to recognize employees.
Types of hr strategies - strategic human resource management - Manu melwin joymanumelwin
Because all organizations are different, all HR strategies are different. There is no such thing as a set of standard characteristics. But two basic types of HR strategies can be identified. These are:
Overarching strategies; and
Specific strategies relating to the different aspects of human resource management.
This document provides an overview of compensation management. It discusses that compensation includes both direct monetary benefits like salary as well as indirect non-monetary benefits. An effective compensation system is designed based on factors like job analysis and market surveys. It is an important part of human resource management that helps motivate employees and improve organizational performance. The various components, types, and importance of compensation management are outlined.
Introduction to Organisational BehaviourISAAC Jayant
Organisational behavior is a field of study that investigates the impact that Individuals, Groups and Structure have on behavior within organization for the purpose of applying such knowledge towards improving an organisations effectiveness. (Stephen. P. Robbins).
Golden Parachute - Human Resource Management - Manu Melwin Joymanumelwin
A golden parachute is an agreement between a company and an employee (usually upper executive) specifying that the employee will receive certain significant benefits if employment is terminated.
Job evaluation is a systematic way to determine the relative worth of jobs within an organization. It aims to establish a rational pay structure by comparing jobs based on factors like skill, effort, and responsibility required. The main methods of job evaluation are ranking, classification, factor comparison, and point method. Ranking simply arranges jobs in order of value, while classification groups similar jobs into predefined grades. Factor comparison and point method assign scores to jobs based on how they rate on important compensable factors. While objective, job evaluation still involves some subjectivity and may require periodic review.
High Performance Work Systems (HPWS) are management systems that aim to increase employee empowerment, skills, and incentives to improve performance. Key elements of HPWS include self-managing teams, training, flexible work assignments, and reward systems. Implementing HPWS provides benefits like higher productivity, quality, and employee satisfaction for organizations and growth opportunities for employees. HPWS can be applied in manufacturing, services, and the public sector.
The balanced scorecard is a strategic planning and management system developed by Kaplan and Norton to align business activities with organizational vision and strategy. It adds non-financial metrics to traditional financial measures to provide managers a more balanced view of performance. The balanced scorecard translates strategy into objectives and initiatives, communicates goals across levels, and enables strategic learning through real-time performance measurement and feedback. It covers four perspectives: financial, customer, internal processes, and learning and growth.
Systematic approach to understand present state of organization and Specifies nature of problem and causes that provides basis for selecting strategies that involves systematic analysis of data for organization development.
This document discusses the strategic role of human resource management. It covers key topics such as the evolution of HRM, traditional HR vs strategic HR, objectives and functions of HRM, and emerging issues in HRM. The document emphasizes that HR can provide competitive advantage when employee talents are valuable, rare, difficult to imitate, and well-organized to improve business performance. It also highlights the changing role of HR from administrative to strategic partner in organizations.
Performance-linked compensation (PLC) is a form of payment from an employer to an employee, which is directly related to the performance output of an employee and which may be specified in an employment contract.
The document discusses auditing an organization's human resource development (HRD) system. It defines an HRD system and lists its key subsystems like training, performance appraisal, and career development. It then provides areas, dimensions, questions, and documents to audit for each subsystem. The goal of auditing is to assess how well the HRD system is building employee competencies and commitment to help the organization achieve business excellence. An effective audit can identify areas for improvement to better meet the organization's needs.
Career Based Performance Management SystemAvinash Kumar
The document discusses career-based performance management and career development initiatives within organizations. It outlines how matching individual and organizational needs through strategic career management can benefit both employees and organizations. Some key benefits include increased employee motivation, loyalty and productivity, as well as attracting and retaining top talent. The document also discusses tools for career planning like self-assessments, counseling, and development programs that help employees advance their careers while meeting business needs.
This document provides an overview of benchmarking as a technique for assessing a firm's performance against competitors. It discusses what can be benchmarked, the different types of benchmarking, methodology, advantages, and key drivers of success. The main points are:
1. Benchmarking involves comparing a firm's performance metrics, processes, strategies and practices to other high-performing companies to identify areas for improvement.
2. The types of benchmarking include performance, best practice, strategic, internal, competitive, functional, and generic benchmarking.
3. Common methodology involves identifying benchmark partners, collecting data on key processes and practices, analyzing performance gaps, and implementing changes.
4. Benefits include improving processes
This document discusses benchmarking and provides details on:
- The purpose of benchmarking is to improve products/processes to better meet customer needs by learning from others.
- There are different types of benchmarking including internal, industry, competitive, and process benchmarking.
- The benchmarking process typically involves 7 stages from identifying key success factors to gather information and compare performance to implement changes.
Benchmarking is a process of comparing business processes and performance metrics to industry best practices from other organizations. It is used to identify areas for improvement and adopt strategies to achieve superior performance. There are different types of benchmarking including process, financial, performance, product, and strategic benchmarking. The benchmarking process involves identifying focus areas, finding organizations with leading practices, surveying their measures and practices, visiting them to identify best practices, and implementing improvements. Benchmarking is an important tool for quality management and enhancing organizational performance and competitiveness.
This document discusses benchmarking, which is defined as a continuous process of evaluating organizations recognized as best practices to identify areas for improvement. It explains that benchmarking involves measuring performance against leaders in specific areas, called critical success factors (CSFs), to find new ideas to address problems. The document provides examples of benchmarks and outlines Xerox's 10 questions for determining the most important CSFs to benchmark, such as customer satisfaction, costs, and functions with the most room for improvement.
This document provides definitions and explanations of key terms related to benchmarking including best practices, competitive analysis, core competencies, and types of benchmarking. It defines benchmarking as the process of continuously comparing business practices and performance metrics to other top performing companies worldwide in order to identify areas for improvement. Benchmarking is distinguished from competitive analysis in that it focuses on understanding the processes that lead to superior performance rather than just comparing metrics. The document also discusses how effective maintenance management can positively impact key performance indicators like return on fixed assets and discusses the benefits of different types of benchmarking such as internal, similar industry, and best practices benchmarking.
Benchmarking is the process of identifying and measuring best practices to evaluate an organization's performance and identify areas for improvement. It involves examining both internal business units and external competitors or leaders in other industries. The goal is to understand where an organization excels and where others perform similar functions better in order to implement changes that close performance gaps. There are different types of benchmarking that focus on strategies, processes, functions or specific business units depending on the goals. An effective benchmarking process involves understanding current performance, analyzing others, comparing performance, and implementing steps to improve.
The document discusses benchmarking, which involves identifying and adapting outstanding processes from other organizations to improve performance. It defines benchmarking and describes different types, including strategic, performance, process, functional, internal, and external benchmarking. Benchmarking comparisons, frameworks, sources of information, outcomes, and industry practices are outlined. Examples are given of companies that significantly improved through benchmarking, such as Xerox increasing sales 152-328% and Marriott improving guest check-in by 500%. Best practices from highly admired companies are also discussed.
Benchmarking is the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations.
It is a way of discovering what is the best performance being achieved – whether in a particular company, by a competitor or by an entirely different industry. This information can then be used to identify gaps in an organization’s processes in order to achieve a competitive advantage.
Benchmarking can help you identify areas, systems, or processes for improvements—either incremental improvements or dramatic improvements.
Benchmarking is a process that compares business processes and performance metrics to industry best practices. It involves identifying high-performing companies in the same or similar industries and comparing one's own processes and performance to learn best practices. Benchmarking has been extended from comparing strategies to comparing technical products and is used widely in industries like automotive manufacturing. There are various benchmarking methodologies but they generally involve identifying areas for improvement, finding comparable processes in other industries, identifying leaders, surveying them, visiting to identify practices, and implementing improvements.
The document summarizes a presentation on using benchmarks to accelerate process improvement. The presentation discusses defining benchmarks and their benefits, providing examples of why cost and schedule data without quality metrics can be misleading. It emphasizes the need for meaningful size attributes and benchmark data to support process improvement. The presentation aims to provide insights into making measurements useful by focusing on the five C's of sizing measures.
Benchmarking is a powerful management tool that helps organizations overcome resistance to change. It does this by demonstrating improved methods used by other companies to solve problems. Benchmarking opens organizations to new ideas and tools to improve effectiveness. There are various benchmarking methodologies that typically involve identifying problem areas, finding other industries with similar processes, identifying leading organizations, surveying measures and practices, and implementing new practices. While benchmarking has costs such as travel, time, and databases, it often pays for itself by finding ways to improve performance.
Benchmarking is the process of continuously measuring and comparing one's organizational processes against industry best practices to identify areas for improvement. It involves identifying high-performing companies, understanding what processes enable their high performance, and adapting those processes for use within one's own organization. Benchmarking provides benefits such as process and product improvement, cost reduction, and gaining a competitive advantage. It follows a typical process of planning, data collection, analysis, and integration of best practices. Common metrics that are benchmarked include financial ratios, productivity, customer satisfaction, and quality.
This document provides information on benchmarking and Total Quality Management (TQM) practices. It discusses benchmarking as a process of systematically searching for best practices and comparing a company's performance to top performers. The benchmarking process involves deciding what to benchmark, understanding current performance, planning benchmarking studies, studying other organizations, learning from data collected, and using findings to improve. Quality Function Deployment (QFD) and Taguchi Methods are also introduced as important TQM practices for linking customer requirements to product development and designing robust processes.
Benchmarking is the process of comparing business processes and performance metrics to best practices from other industries. The key dimensions typically measured are quality, time and cost. Management identifies high performing companies in the target industry or other industries with similar processes. They study the targets' processes and results to learn why those companies are successful and how their own processes and performance can be improved. There are various types of benchmarking including process, performance, strategic, internal and external benchmarking. The overall goal is to continuously improve practices and increase performance.
This document provides information on organizational diagnosis and benchmarking to improve business performance. It discusses:
1. Organizational diagnosis involves assessing an organization's current performance, identifying gaps between current and desired performance, and determining how to achieve goals. Data collection methods include interviews, surveys, and analyzing primary and secondary sources.
2. Benchmarking involves measuring a company's performance against the best in its industry to identify improvement opportunities. There are four main types and conducting benchmarking involves four steps: planning, data collection, analysis, and adapting best practices.
3. SWOT analysis, value chain analysis, and developing short- and long-term business plans are also discussed as tools to understand an organization and strategize
This document discusses benchmarking, which is a process of comparing performance between organizations to enable improvement. It defines key benchmarking terms and outlines the general principles and benefits, which include understanding strengths/weaknesses, satisfying customers, and motivating employees. There are four main types of benchmarking: competitive, internal, process, and generic. The benchmarking process involves planning, forming teams, collecting/analyzing data, integrating findings, and taking action. Potential pitfalls include lack of sponsorship, choosing the wrong team members, taking on too much, and not relating benchmarking to strategy.
Benchmarking is defined as a technique in which an organisation compares its performance to that of 'best in class' organisations, discovers how other organisations achieve the levels they do, and uses that information to improve its own performance.
Benchmarking involves identifying best practices from within and outside an organization to improve performance. It measures an organization's processes and performance against industry leaders to determine how to close gaps. There are different types, including strategic, process, internal, and external benchmarking. Successful benchmarking requires thorough understanding of one's own processes, selection of appropriate partners and techniques, and commitment to implementing identified best practices.
The document discusses benchmarking, which is defined as the process of comparing business processes and performance metrics to industry best practices for the purpose of self-improvement. It outlines different types of benchmarking including strategic, process, functional, and competitive benchmarking. The benchmarking process typically involves identifying problem areas, finding organizations with superior performance to study, surveying them to understand metrics and practices, visiting top performers, and implementing improvements. Benchmarking is presented as a continuous process of measuring performance against leaders to drive organizational development.
This document provides definitions and explanations of counselling from various sources. It discusses counselling as a process that focuses on personal growth and empowerment. It outlines the benefits of counselling for both employees and organizations. It also describes different types and approaches to counselling such as directive vs non-directive counselling and humanistic approaches developed by Carl Rogers. Key figures in the development of counselling theories are discussed, including Freud, Maslow and Gestalt therapy founders.
This document discusses inventory management. It defines inventory as raw materials, work-in-process goods, and finished goods ready for sale. It notes that inventory is an important asset for businesses as it represents a primary source of revenue. The document outlines the functions of inventory, including meeting anticipated demand and guarding against stock-outs. It also discusses inventory costs like ordering costs, holding costs, and stockout costs. Finally, it introduces the concept of economic order quantity, which is the order size that minimizes total inventory costs.
Demand chain management aims to integrate marketing and supply chain functions to create customer value. It involves:
1) Integrating demand and supply processes to ensure customer needs are met.
2) Managing digital integration and cross-functional relationships between marketing and supply.
3) Configuring the value system to design customer-centered supply chains that meet differing customer needs.
Supply chain sustainability is a holistic perspective of supply chain process...Narendra Chaudhary
This document discusses several topics related to supply chain management and logistics. It discusses supply chain sustainability, demand-driven manufacturing, third-party logistics (3PL), demand flow scheduling systems, reducing supply chain costs through optimizing logistics management, and just-in-time manufacturing. The key ideas are that supply chain sustainability aims to reduce waste and costs through collaboration, demand-driven manufacturing produces goods based on customer orders rather than forecasts, 3PL providers manage outsourced logistics services, and optimizing logistics is important for controlling international trade costs.
This document discusses different types of warehouses and their functions. It begins by explaining that warehouses serve as switching facilities rather than just storage. It then describes various warehouse strategies like consolidation, break bulk, and postponement warehouses. The document outlines key principles for warehouse design, handling technology, and storage plans. Finally, it compares private versus public warehouse models and their relative benefits.
The document discusses purchasing and vendor management. It covers topics such as the objectives and types of purchasing, purchasing procedures, functions of the purchasing department, centralized vs decentralized purchasing, vendor rating criteria and techniques, and benefits of vendor rating systems. The key points are that purchasing aims to acquire goods and services at minimum cost, ensure quality and timely delivery. Vendor performance is evaluated based on pricing, quality, delivery and service. Formal vendor rating systems help improve vendor performance and minimize subjectivity.
This document provides an overview of logistics management. It defines logistics as managing the flow of materials and finished goods from suppliers to customers. This includes transportation, warehousing, inventory management, and information systems. The objectives of an effective logistics system are to ensure the right goods are delivered to customers in the correct quantities, locations, times and at the lowest overall cost while meeting quality standards. Key aspects of logistics discussed include distribution and warehousing management, physical distribution, and reducing supply chain costs.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
2. Benchmarking
Benchmarking is the process of determining who
is the very best, who sets the standard, and
what that standard is. In baseball, you could
argue that seven consecutive World Series
Championships made the New York Yankees
the benchmark.
If we were to benchmark "world conquest", what
objective measure would we use to compare
Julius Caesar to Adolph Hitler; Gengis Khan to
Napoleon? Which of them was the epitome, and
why?
3. What is Benchmarking?
We do the same thing in business. Who is
the best sales organization? The most
responsive customer service department?
The leanest manufacturing operation?
And how do we quantify that standard?
Thus, we can say that Benchmarking is a
systematic process for identifying and
implementing best or better practices
4. Benchmarking is a systematic comparison
of organizational processes and
performance to create new standards or to
improve processes. Benchmarking models
are used to determining how well a
business unit, division, organization or
corporation is performing compared with
other similar organizations
5. A Benchmark is often used for improving
communication, professionalizing the
organization / processes or for budgetary
reasons. Traditionally, performance measures
have been compared with previous measures
from the same organization at different times.
Although this can be a good indication of the
rate of improvement within the organization, it
could be that although the organization is
improving, the competition is improving faster.
6. Benchmarking (also "best practice benchmarking" or
"process benchmarking") is a process used in
management and particularly strategic management, in
which organizations evaluate various aspects of their
processes in relation to best practice, usually within their
own sector. This then allows organizations to develop
plans on how to adopt such best practice, usually with
the aim of increasing some aspect of performance.
Benchmarking may be a one-off event, but is often
treated as a continuous process in which organizations
continually seek to challenge their practices
7. There are four types of benchmarking methods:
1. internal (benchmark within a corporation, for
example between business units)
2. competitive (benchmark performance or
processes with competitors)
3. functional (benchmark similar processes
within an industry)
4. generic (comparing operations between
unrelated industries)
8. Typically, benchmarking models
involves the following steps
- scope definition
- choose benchmark partner's)
- determine measurement methods, units,
indicators and data collection method
- data collection
- analysis of the discrepancies
- present the results and discuss implications /
improvement areas and goals
- make improvement plans or new procedures
- monitor progress and plan ongoing benchmark.
9. What is Formal Benchmarking?
There are two types of Formal
Benchmarking –
Performance and
Best Practice Benchmarking.
10. Performance benchmarking; this involves
comparing the performance levels of
organisations for a specific process. This
information can then be used for identifying
opportunities for improvement and/or setting
performance targets. Performance levels of
other organisations are normally called
benchmarks and the ideal benchmark is one that
originates from an organization recognized as
being a leader in the related area.
11. Performance benchmarking may involve the
comparison of financial measures (such as
expenditure, cost of labour, cost of
buildings/equipment, cost of energy, adherence
to budget, cash flow, revenue collected) or non-
financial measures (such as absenteeism, staff
turnover, the percentage of administrative staff
to front-line staff, budget processing time,
complaints, environmental impact or call centre
performance).
12. Best practice benchmarking; this is where
organisations search for and study
organisations that are high performers in
particular areas of interest. The processes
themselves of these organisations are
studied rather than just the associated
performance levels, normally through
some mutually beneficial agreement that
follows a benchmarking code of conduct.
13. Knowledge gained through the study is taken back
to the organization and where feasible and
appropriate, these high performing or best practices
are adapted and incorporated into the organization's
own processes. Therefore best practice
benchmarking involves the whole process of
identifying, capturing, analyzing, and implementing
best practices . There are a number of best practice
benchmarking methodologies. One of which is the
TRADE Best Practice Benchmarking methodology.
15. Who uses Benchmarking?
In the West most large and highly successful
organisations use best practice benchmarking as a tool
to continually learn and improve. The resources needed
to carry out repeated best practice benchmarking
projects properly and in a way that maximizes the
learning to be gained from the experiences can be
considerable, hence it is used more frequently within
large organisations.
On the other hand, comparative or competitor
benchmarking is not affected to the same degree by
resources, and is used by organisations of all sizes, the
most basic form of this practice is simply knowing your
main competitors product price, something that is a
prerequisite to staying in business.
16. Indications are that the use of
benchmarking worldwide continues to
grow since Robert Camp wrote the first
book on benchmarking in 1989.
17. The 2008 study by the Global Benchmarking
Network showed the improvement tools that are
likely to increase in popularity the most over the
next three years are Performance
Benchmarking, Informal Benchmarking,
Strengths, Weaknesses, Opportunities, and
Threats, and Best Practice Benchmarking.
Current use of Informal benchmarking is 68% of
organisations, Performance benchmarking,
49%, and Best practice benchmarking, 39%.
18. The growth from year to year in membership of the
Global Benchmarking Network which now has
representatives from over 20 countries
The growth in the number of countries that have a
business excellence award to more than 70 (the growth
in business excellence is likely to be correlated to the
growth in benchmarking as a central part of business
excellence is benchmarking with as much as 50% of the
points associated with these models attributed to
benchmarking) and
The continuing popularity of benchmarking within the
academic community as the number of papers written on
the subject continues to grow.
19. What are the common challenges
associated with benchmarking?
There are several main issues that both inhibit
organisations actively involved in benchmarking
and prevent others from attempting active
involvement.
organisations findings indicated that among
some of those involved in benchmarking there
were difficulties encountered during the process.
These difficulties included:
20. finding suitable partners
difficulties in comparing data (50% of
organisations found this)
resource constraints (time, finance and
expertise)
staff resistance
21. Benchmarking is a tough process that needs a lot of
commitment to succeed. More than once benchmarking
projects end with the 'they are different from us'
syndrome or competitive sensitivity prevents the free
flow of information that is necessary. However
comparing performances and processes with 'best in
class' is important and should ideally be done on a
continuous basis (the competition is improving its
processes also).
Historically, benchmarking is based on Kaizen and
competitive advantage thinking.
23. The word outsourcing is often heard in the world of
business today. It is something which has affected THE
BUSINESS of almost every nature and every nation.
Outsourcing is occurring in almost every country of this
world to some extent. There are some leader countries
in this field of outsourcing such as India and China.
What is Outsourcing?
When discussed in simple words outsourcing is simply a
formal agreement with a third party to perform a service
for an organization. A more comprehensive definition for
outsourcing would be that outsourcing is the concept of
taking internal company functions and paying an outside
firm to handle them
24. It is basically done for the following major reasons:
-To save money in terms of lowering costs
-To improve quality
-To free company resources for other activities such as
focusing more on competencies
The concept of outsourcing began with the data-
processing industry and today it has spread to vase
areas which comprise of tele-messaging and call
centers. It would not all be wrong to say that outsourcing
is the surge of the next generations. Another name used
for outsourcing is off shoring which has the same
meaning as outsourcing.
25. Technically speaking, outsourcing is not merely
the contract with a third party to perform a
service for an organization, but it also involves
transferring a significant amount of management
control and decision-making to the external
supplier. The process of outsourcing is very
much formal like other business processes and
it always includes a considerable degree of two-
way information exchange, coordination, and
trust.
26. Different Techniques of
Outsourcing
The concept of outsourcing was adopted by different
organizations in different methods such as in some
cases the companies who desired to outsource their
customer service:
-Hired technical writers in order to write simplified usage
instructions of their products
-Index the key points of information
-Contracted with temporary employment agencies to
search for, train and hire generally low-skilled workers to
answer their telephone technical support and customer
service calls
27. The most wide spread method of outsourcing
being adopted throughout the world is of call
centers. The people employed at the call centers
answered the query calls of the customers,
where the information needed to assist the
calling customer was indexed in a computer
system. In most cases the agents were not liable
to tell the customers that they were not directly
associated with the original manufacturer.
28. Outsourcing: Business in the 21st
Century
Almost every country and almost every
organization is outsourcing a part of its tasks or
some tasks. The reason that has been found for
the increase in the trend of outsourcing for
businesses is it increases profit and lower costs,
and business focuses most on these aspects.
For instance if we consider the example of IBM ,
which in the year 2003, decided to outsource the
jobs of almost 5000 programmers to India and
China. Similarly, Microsoft, Dell, American
Express, and virtually every major multinational
from Accenture to Yahoo has already
outsourced work or is taking decisions to do so.
29. From the studies of the outsourcing of these
companies it has been found that the savings
due to outsourcing are spectacular as
companies can reduce around 20% to 70% of
their labor costs by outsourcing jobs to low-wage
nations considering that the work is of same
quality.
30. The concept of outsourcing is applied to a vast
area of business processes or tasks. Every
organization outsources some particular tasks to
a vendor. The task that was outsourced mostly
when outsourcing began, was customer support,
later with the advancement in technology and
knowledge this limited area included IT, data
analysis, Medicare, engineering and a few more