Benchmarking

Benchmarking

1. Is the process through which a company measures its products, services, and practices against its toughest competitors, or those companies recognized as leaders in its industry

   • FOCUS
     • On company-to-company comparisons of how well basic functions and processes are performed.
   • BASICS
     • Identify the weaknesses within an organization and improve upon them, with the idea of becoming the "best of the best.
   • ROLES
     • When
       • Can be used at any time, but is usually performed in response to needs that arise within a company
     • Why
       • •To signal management's willingness to pursue a philosophy that embraces change in a proactive rather than reactive manner.
     • Who
       • Analysis of existing practice within various departments or divisions of the organization, looking for best performance as well as identifying baseline activities and drivers.
     • What
       • Focus on roles, processes, or strategic issues. It can be used to establish the function or mission of an organization
     • How
       • Uses different sources of information, including published material, trade meetings, and conversations with industry experts, consultants, customers, and marketing representatives.

2. MARIA CAROLINA CARDONA CARRIZALEZ