Benchmarking

Benchmarking Definition Benchmarking is the process of identifying best practice in relation to two products (including) and the processes by which those products argon created and delivered. The search for best practice rout out taker place both inside a particular industry, and to a fault in other industries (for example - are there lessons to be learned from other industries?). The objective of benchmarking is to understand and evaluate the on-line(prenominal) position of a commerce or organisation in relation to best practice and to identify areas and means of cognitive process usefulness. The Benchmarking Process Benchmarking involves looking outward (outside a particular business, organisation, industry, region or country) to examine how others achieve their performance levels and to understand the processes they use. In this room benchmarking helps explain the processes behind excellent performance. When the lessons learnt from a benchmarking exercise are applied appropriately, they facilitate improved performance in little functions within an organisation or in key areas of the business environment. Application of benchmarking involves four key steps: (1) Understand in detail existing business processes (2) Analyse the business processes of others (3) analyze own business performance with that of others analysed (4) Implement the steps needed to close the performance gap Benchmarking should not be considered a one-off exercise. To be effective, it must become an ongoing, integral part of an ongoing improvement process with the goal of keeping abreast of ever-improving best practice.

Types of Benchmarking at that place are a number of different types of benchmarking, as summarised under: |Type |Description |Most Appropriate for the Following | | | |Purposes | |Strategic... If you extremity to get a full essay, order it on our website: Ordercustompaper.com

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