Critical Thinking Benchmarking

Benchmarking is the function of comparing the current project, methods, or processes with the best practices and use the learning to drive improvement of overall company performance, with some other projects, within the organization and outside the organization. The standard for comparison whitethorn be competitors within the industry, but is often found in unrelated tune segments. Dr. Deming was not very enthused about bench marking efforts, because if a company only copies processes without knowledge, they will err. So, a company should look for a true understanding of the process that will be benchmarked. Benchmarking has gained tremendous influence and usage in the 1990s. Correspondingly, front-line employees and operating managers carry applied basic benchmarking skills in scores of different business situations.

Benchmarking

The technique used in this paper is benchmarking. Benchmarking is define as a continuous improvement process in which a company measures the most relevant specific attributes of it aver products, dish and practices, often including: operations, procedures, processes, performance, project and strategies. A company can compares its own performance against the best in class company performance, companies acknowledge as industry leader, the company toughest competitors, and any know process that is significantly superiors to the company. It determines how those companies achieved their significantly superior performance train. Companies use that information to improve its own performance.



Ultimately to achieve a level of performance achieved by the benchmarked process or a level above that process. Continually repeats the process in an iterative fashion. The benchmark diagram is the most well known way of measure performance. The next section of the paper will show a Benchmark Diagram.

Method

Benchmarking examines how companies compete. It moves across industries seeking to identify the winning strategies that gull enabled high-performing companies to be successful in their marketplace.

How to Use this Technique

Benchmark is a reference...

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