BENCHMARKING

SAKSHI SAKLECHA
PGDM - A - 42
 WHAT IS BENCHMARKING?
• the practice of comparing business processes and performance metrics
 to industry bests and best practices from other companies.

• Dimensions typically measured - quality, time and cost.

• QUESTIONS:

 Why are others better?

 How are they better?
 What can we learn?
PROCESS OF BENCHMARKING
TYPES OF BENCHMARKING
 WHY BENCHMARKING?
 
• Gain an independent perspective about how well you perform compared
to other companies
• Drill down into performance gaps to identify areas for improvement
• Develop a standardized set of processes and metrics
• Enable a mindset and culture of continuous improvement
• Set performance expectations
• Monitor company performance and manage change
 ADVANTAGES
• Improves Learning Methodology
• Initiates Technological Upgradation
• Improve Company’s Standards
• Enhances Work Quality
• Cope Up with Competition
• Improves Efficiency
• Increases Customer Satisfaction
• Help Overcome Weaknesses
THANK YOU!