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Business Strategy

Business Strategy

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Published by: anandgupta512 on Dec 28, 2010
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06/22/2013

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Selecting the benchmarking partner is critical to solving
Selecting the benchmarking partner is critical to solving
the problem.

the problem. Firms should generally avoid selecting the
Firms should generally avoid selecting the

industry leader

industry leader, because it may not always adopt the best
, because it may not always adopt the best
practices for every process or activity. Benchmarking

practices for every process or activity. Benchmarking
partners may also be from different industries. Types –

partners may also be from different industries. Types –
–Internal –

Internal – It involves benchmarking against its own
It involves benchmarking against its own
branches, divisions, SBU’s. Proximity to data and

branches, divisions, SBU’s. Proximity to data and
cooperation is taken care of automatically.

cooperation is taken care of automatically.

–External –

External – It involves benchmarking against firms that
It involves benchmarking against firms that
succeeded on account of their best practices. It may

succeeded on account of their best practices. It may
also involve benchmarking against world-class firms.

also involve benchmarking against world-class firms.
Friction may arise due to presence in competing

Friction may arise due to presence in competing
industries.

industries.

174

174

BENCHMARKING - ADVANTAGES

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