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Benchmarking Essay

740 words - 3 pages

BENCMARKINGBenchmarking is the process of measuring an organization's internal processes then identifying, understanding, and adapting outstanding practices from other organizations considered to be best-in-class.Learning from others what they do right and then imitating it to avoid "reinventing the wheel"Measuring yourself against the "best in class"Diagram of Benchmarking ConceptKey ElementsMeasuring using metrics- Expressed numerically, with target in mindRecognizing differences in processes- Need to thoroughly understand their own processes as well as those of the best in class's companyComparing self to external competition- Reduces chance of being caught off guard- Encourages competition- Personnel more motivated to attain goalsImitation/Adaptation vs. Invention- Provides a working model on an improved processContinuous Improvement- Technologies and ideas become obsolete; businesses need to keep abreast of what is current- Some benchmarking may need to be done continuallyWhat Can We Learn from Benchmarking?Who in your field performs best?What ideas can your organization adapt?Who would be best for you to benchmark with?Reasons to BenchmarkAssists businesses cultivate strong points and diminish problem areasLets ambitions be set impartially, taken from outside informationIncludes emulation and revision instead of new innovationProbable, valuable knowledge can be established and implemented early onRequirementsBuy-inTrainingTimeliness6 Steps of the Benchmarking ProcessDecide what to benchmarkUnderstand current performancePlanStudy othersLearn from the dataUse the findingsDecide what to benchmarkWhich processes are causing the most trouble?Which processes contribute most to customer satisfaction and which are not performing up to expectations?What are the competitive pressures impacting the organization the most?What processes or functions have the most potential for differentiating our organization from the competition?Critical Success FactorsStrategy that defines how a company positions itself and competesExpressed in mission and vision statementsIncludes list of critical activities that must be accomplished to realize company's visionHelp get the most "bang for the buck"Understand Current PerformanceThoroughly understand the and document the current processFlow charts and cause-and-effect diagrams are helpfulPay attention to inputs and outputsPlanThe benchmarking team decides:- What type of benchmarking to perform?- What type of data to collect?- The method of collectionTypes of BenchmarkingInternal BenchmarkingEvaluates progressions or procedures inside the business or company over time with recognized objectives in mindBenefits - the simplicity of data gathering and the designation of parts for upcoming outside inspectionsDisadvantage - a decreased likelihood that it will generate important process advancement...

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