The Continuing Value of Benchmarking
- Topics:
- Goal-setting
- Tags:
- APQC,
- Benchmarking
- Source:
- APQC
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Overview: The frequent use of terms such as benchmarking in business circles have led to the development of ineffectual buzzwords. Like total quality management (TQM) and reengineering, benchmarking has become a too-familiar term. Yet, for any organization concerned with cutting costs, increasing productivity, inspiring innovation, or generally achieving new heights of performance, benchmarking still has a critical role to play in organizational improvement. It is defined by the American Productivity & Quality Center (APQC), as the process of identifying, understanding, and adapting outstanding practices from organizations anywhere in the world to help organization improve its performance. Benchmarking must apply to daily operations. In 1997 a study of more than 470companies, APQC found that benchmarking is most powerful when it is used as a continuous improvement tool as part of a larger change initiative. In fact, 83 percent of respondents indicated that benchmarking is most successful when used in conjunction with other change orstrategic improvement initiatives.
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Format: HTML | Date: Jan 2003 | Pages: 1
