Benchmarking
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Benchmarking. Chapter 8 By: Anitha Veerpaneni, Kristie Winnett, and Danielle Steibel. Benchmarking. Focus Questions What is your definition of benchmarking? Why is benchmarking important?. Benchmarking. According to the text benchmarking is:

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Benchmarking

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Benchmarking

Benchmarking

Chapter 8

By: Anitha Veerpaneni, Kristie Winnett, and Danielle Steibel


Benchmarking1

Benchmarking

Focus Questions

  • What is your definition of benchmarking?

  • Why is benchmarking important?


Benchmarking2

Benchmarking

  • According to the text benchmarking is:

    “systematic search for best practices, innovative ideas, and highly effective operating procedures”

  • Benchmarking is important because:

    It constantly challenges your organization to improve, and to set new goals and objectives


Benchmarking3

Benchmarking

Six Techniques for Benchmarking

  • Decide what to benchmark

  • Understand current performance

  • Plan

  • Study others

  • Learn from the data

  • Use the findings


Benchmarking4

Benchmarking

Weaknesses of Benchmarking

  • Timely and costly to initiate

  • Standards are constantly changing

  • Lack of originality

  • Difficult to initiate if don’t have internal cooperation

  • Setting goals for the company which do not necessarily fit the company objectives


Benchmarking

QUESTIONS?


References

References

Besterfield, D., Besterfield-Michna, C., Besterfield, G., & Besterfield-Sacre, M. (2003). Total Quality Management (3rd ed.). Saddle River, New Jersey: Pearson Education.


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