Benchmark
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pages
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Documents
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BenchmarkingLearning from Others’ Success1Some QuestionsWhat markets offer attractive profit potential?How will your industry evolve over time?What are the key success factors in your market(s)?What segments exist, what strategy is required?What are your competitors’ strategies, strengths &weaknesses?How do your competitors’ capabilities map against a marketkey success factors?2Benchmarking is aEvaluatingContinuous Systematic ProcessUnderstandingOngoing StructuredAssessingforLong-term FormalMeasuringAnalyticalComparingOrganisedOrganisations that Recognised Best-in-classtheasCompanies are Acknowledged World-classInstitutions Identified Representingbest practicesOrganisational comparisonfor the Organisational improvementpurpose of Meeting or surpassing industry best practicesDeveloping product/process objectivesEstablishing priorities, targets, goals3General Principles for Involvement• The more people involved, the more different viewsand perspectives brought to bear• The more ideas generated, the better the chance ofmaking significant changes• The more people in the benchmarking process, the lessdifficult it is to sell the concept and any results to theworkforce.4Types of Benchmarking• Internal benchmarking• Competitive benchmarking• Industry or Functional benchmarking• Process or Generic benchmarking5Internal Benchmarking• Similar activities in different locations, departments etc• Advantages:– “Sharing” - Communication– ...
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Benchmarking
Learning from Others’Success
1
Some Questions
What markets offer attractive profit potential? How will your industry evolve over time? What are the key success factors in your market(s)? What segments exist, what strategy is required? What are your competitors’strategies, strengths & weaknesses? How do your competitors’capabilities map against a market key success factors?
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Continuous Ongoing Long-term
Benchmarking is a stematic Proc
Systematic Structured Formal Analytical Organised
Process for
Evaluating Understanding Assessing Measuring Comparing
the Organisations that Recognised Best-in-class Companies are Acknowledged as World-class Institutions Identified Representing best practices
for the purpose of
Organisational comparison Organisational improvement Meeting or surpassing industry best practices Developing product/process objectives Establishing priorities, targets, goals
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General Principles for Involvement
The more people involved, the more different views and perspectives brought to bear The more ideas generated, the better the chance of making significant changes The more people in the benchmarking process, the less difficult it is to sell the concept and any results to the workforce.
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Types of Benchmarking
Internal benchmarking
Competitive benchmarking
Industry or Functional benchmarking
Process or Generic benchmarking
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Internal Benchmarking Similar activities in different locations, departments etc
Advantages: “Sharing - Communication Data easy to get Good results, immediate benefit Good practice
Disadvantages: Limited focus Internal bias “Miss the boat
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Competitive Benchmarking
Direct Competitors, same customer base
Advantages: Directly relevant Comparable practices & technologies History of information
Disadvantages Data collection difficulties Ethical issues Antagonism
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Industry or Functional Benchmarking
Leaders in Similar Industry
Advantages
Willing partners
Readily Transferable
Disadvantages
Cost
Some “willing partners not so willing!
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Process or Generic Benchmarking
State of the art Processes/products/services Break the company into generic functions Advantages Breakthrough ideas Network development High potential for innovation Disadvantages: Hard to do! Transferring practices (learning!) Some information not transferable Time consuming
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Efficacy of Benchmarking: 580 Companies
Pe fo ance (ROA) High: >6.9% Medium: 2% - 6.9% Low: <2%
Bench a ing effect High impact
No compelling positive impact Negative impact
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Before you Start
Clear about key issues Clear strategic plan Know your key customers Key suppliers Management commitment
Management commitment to improvement Commitment to participation Prepared to restructure
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Analytical skills Will to implement (courage!) Ability to lead & develop teams Employees able to work in teams Commitment of resources Project management
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