Benchmarking 2
Article Index
Benchmarking 2
1.1 What Is Benchmarking?
1.2 Popular Approaches to Benchmarking and Benchmarking Stages
1.3 The Benefits of Benchmarking
1.4 What Is a Best Practice in Relation to Benchmarking?
1.5 Understanding Benchmarking
2.1 Examples of Best Practice and Benchmarking Awards
2.2 The Global Benchmarking Network (GBN)
2.3 Powerhouse in Benchmarking: the American Productivity
2.4 Dubai We Learn: 13 Benchmarking Case Studies
2.5 Premier Benchmarking Website: BPIR.com
3.1 Winner of the 5th Global Benchmarking Award: Al Jazeera Int. Catering, UAE
3.2 Winner of the 4th Global Benchmarking Award: The Medical City, Philippines
3.3 Winner of the 3rd Global Benchmarking Award: OCBC Bank, Singapore
3.4 5th International Best Practice Competition Runner-Up: Dubai Municipality
3.5 Knowledge and Human Development Authority: People Happiness
3.6 Dubai Electricity and Water Authority: Promoting and Marketing Solar Energy
3.7 Starbucks Stays Competitive Against Other Market Giants by Benchmarking
3.8 Winner of the 5th International Best Practice Competition: Bharat Petroleum, India
3.9 Rapid Benchmarking at Fonterra Using the TRADE Benchmarking Methodology
4.1 Benchmarking Is Here to Stay
4.2 Benchmarking Past Present and Future
4.3 A Preliminary Model of Informal Benchmarking
4.4 The Benchmarking 2030 Project
4.5 Benchmarking: A powerful Technique for Continuous Improvement
5.1 TRADE Best Practice Benchmarking Methodology
5.2 Tenth International Benchmarking Conference (IBCON)
5.3 Using Benchmarking Measurement to Improve Performance over Time
5.4 Top 16 Competitor Analysis Tools
5.5 Comparison of Best Practice Benchmarking Models
5.6 Global Benchmarking Network Sustainability Tool
5.7 Personalised Benchmark Report
5.8 Ten Steps to Best-Practices Benchmarking
6.1 Benchmarking Maturity Grid
6.2 Benchmarking Maturity Assessment
6.3 Benchmarking Public Procurement Report and Scoring Indicators
6.4 Benchmarking Tools and Assessments
6.5 Outcome Measurement
6.6 The Top 6 Strategic Benchmarks to Measure Company Performance
6.7 EFQM Global Excellence Index
6.8 Organizational Excellence Assessment Tool
7. What do business leaders say about ideas management systems?
8. Conclusion
Benchmarking is the most effective and widely used way for companies of all sizes to improve performance and gain a critical advantage. Every organisation can learn and improve its business performance, no matter how strong its business model or end-of-year results. Even confirmed global leaders such as Xerox, Starbucks, and PepsiCo confirm the importance of benchmarking to staying one step ahead of their competition.

In This Report

  1. What is benchmarking?
  2. Which organisations have received recognition for excellence in benchmarking?
  3. How have organisations reached high levels of success in benchmarking?
  4. What research has been undertaken into benchmarking?
  5. What tools and methods are used to achieve high levels of success in benchmarking?
  6. How can benchmarking be measured?
  7. What do business leaders say about benchmarking?
  8. Conclusion

The Definition

Benchmarking is a process to identify and implement best, better or new practices, with the objective of providing greater stakeholder value and obtaining a competitive advantage. It is a way of discovering the best performance and practices of other organisations, and then learning, adapting, creating, and implementing high-performing practices to produce superior performance results.

The Stage

To stay competitive, organisations are constantly on the lookout for new tools, methods, and approaches to improve their performance. Whether it is through strategy, systems, functions, processes, products or services, benchmarking is one of the most effective ways of improving performance.
Research consistently shows benchmarking to be one of the most effective and widely used management tools. It enables organisations to innovate and reduce costs without having to reinvent the wheel. Benchmarking uses a structured and systematic process; it facilitates the identification of best practices from other organisations, and serves as a vehicle for continuous improvement and breakthrough thinking. Once these best practices have been identified, organisations can adapt them to suit their needs. This significantly enhances performance levels and increases productivity.
There are many forms of benchmarking, and the sheer number of models, approaches and classifications can be confusing. Fortunately, there is now a significant body of academic papers on the subject. There can be anywhere from four to 32 steps (or stages) of benchmarking, depending on the level of detail of the methodology. However, the generic steps are similar in nature. These are covered in the main body of this report.
Make no mistake, benchmarking is here to stay. In fact, its popularity is expected to grow as information about best practices becomes more readily available, and its effectiveness in global key agendas is more widely understood. This is especially true for areas relating to innovation, cost cutting, and the reduction of complexity.

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