What is Benchmarking?
- Topics:
- Strategic Management Tools
- Source:
- APQC
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Overview: Benchmarking is the process of identifying, sharing, and using knowledge and best practices. It focuses on how to improve any given business process by exploiting topnotch approaches rather than merely measuring the best performance. Finding, studying and implementing best practices provides the greatest opportunity for gaining a strategic, operational, and financial advantage. Benchmarking mirrors the continuous improvement efforts that may already exist in an organization. It helps to blend continuous improvement and breakthrough improvement into a single change management system. While benchmarking readily integrates with strategic initiatives such as continuous improvement, re-engineering, and total quality management, it is also a discrete process that delivers value to the organization on its own. This paper gives an insight look into APQC?s Benchmarking Methodology. APQC consortium benchmarking studies use a four-phased approach: planning, data collection, data analysis, reporting, and adaptations of study findings.
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Format: HTML | Size: 28KB | Date: Jan 2003 | Pages: 3
