Essay On Benchmarking

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According to Bdeir (2003), corporations have adopted benchmarking in search for best practices, in response to fast-paced changing economic conditions. Spendolini (1992) provides a sound working definition of benchmarking as a continuous, systematicprocess for evaluating the products, services or work processes of organisations that arerecognised as representing best practices for the purpose of organisational improvement. It is a comparative measurement process that provides a methodology to help organizations improve their performance within a wide range of activities.While a benchmark is a reference point in determining one’s current position, it is also used as a starting point from which other measurements can be made, or against which others could be measured. In the 1980s, the notion of benchmarking grew in scope, and was defined by various practitioners as follows:
i. Camp (1989) defined benchmarking as a search for the industry best practices that lead to superior performance. ii. Kaiser (1992) defined benchmarking as a process for rigorously measuring your performance versus the best-in-class companies and for using the analysis to meet or surpass the best-in-class. iii. Benchmarking is a fundamental business or investment skill that supports quality excellence (Bogan, Christopher and English, 1994)
By their nature, best practices are dynamic and progressive. Best practice champions, thus regard benchmarking as an on-going business process that is fully integrated with continuous improvement in their organization.
Bogan and English (1994) identified a rapid advancing revolution in performance measurements, known as benchmarking. Today, this revolution is creating a new paradigm for how organizations manage and measure ...

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...benchmarking process is a set of steps used to discover and incorporate best practices into day to day operations. vi. A benchmarking system is the infrastructure and organization linkage necessary to deploy, reinforce and institutionalize a benchmarking process. vii. A benchmarking consortium is made up of organizations/institutions that have joined together to help each other perform some part of the benchmarking process. Often supported by electronic networks, the members share contacts for benchmarking studies, assist in data collection, arrange for site visits and share information regarding best benchmarking practices. viii. A performance driver is a casual factor. It can be inherent to the environment, structural (imbedded in the current design of the organization), or performance-related (the result of the performance and process carried out by the company).
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