UNDERSTANDING BENCHMARKING IN A WEEK

1. UNDERSTANDING BENCHMARKING IN A WEEK AUTHORS ➢John macdonald ➢Steve tanner BOOK REVIEW BY CH.KARTHIK BIFAAS ROLL NO. 06 SSIM

2. ABOUT THE BOOK Book Name: UNDER STANDING BENCHMARKING Language: English Author's Name: JOHN MACDONALD STEVE TANNER Publisher: Hodder & Stoughton Ltd Published in the year: 1998 No of pages: 96 ABOUT THE AUTHER: JOHN MACDONALD AND STEVE TANNER John macdonald and Dr steve tannner are both recognized as major contributors to worldwide quality movement. They are consultants, authors, and a speaker of international repute.it was collaborated on other books in week series. They have collaborated on other book in the in a week series. John is also author of understanding knowledge management, global quality; call a halt to mindless change. Steve is the co-author of assessing business excellence. CONTENTS ➢INTRODUCTION ➢Sunday- What is benchmarking ➢Monday- Where do we start ➢Tuesday- The benchmarking roadmap ➢Wednesday- Planning the study

3. ➢Thursday- Collecting the data ➢Friday- analyzing and using the data ➢Saturday- Maintaining leadership INTRODUCTION: Benchmarking is changing perspectives of executives and managers around its world. It shows on company good, bad, mediocre of their own company. It applies to manufacturing services and small and large scale organizations. It provides step-by-step guidelines for understanding benchmark. It reveals the practice behind the company performance. The growth of benchmarking is so rapid. WHAT IS BENCHMARKING? - SUNDAY Benchmarking is the process of comparing the own organization or operations against other organizations. Benchmarking can be applied against any product, process, function or approach in business. Measures of time, quality, cost and effectiveness (or satisfaction). The intent of benchmarking is to compare the own operations versus competitors. To generate ideas for improving processes, approaches and technologies to reduce costs, increase profits and strengthen customer loyalty and satisfaction. Benchmarking is an important component of continuous improvement initiatives. Reasons for benchmarking It focus on the business imperatives involved in consumer satisfaction Strategic planning: developing short and long term plans

4. Product comparison: comparing with competitors Forecasting: predicting trends in relevant areas Goal setting: establishing performance goals TYPES OF BENCHMARKING Comparative analysis- Stratic and Tactical Best price making – Internal, Comparative, Functional, Generic Benefits of the benchmarking It shows various types of benchmark available.it can be concentrate on the best practice benchmarking Develops realistic stretch and strategic targets. Establishes realistic action for implementation Encourages a striving for excellence Creates a better understanding of competitors Emphasizes sensitivity to change WHY DO WE START? - MONDAY Benchmarking, they have to know the level of effort and key element of effort National benchmarking clearing house was surveyed 80 leading organizations, Average on benchmark study on last six months

5. It occupies 25% of team members’ time and costs 45000$ 90% of respondents they were going to increase their benchmarking KEY ELEMENTS Management support and direction A systematic approach Research facilities Networking A code of conduct BENCHMARKING ROADMAP - TUESDAY Benchmarking has a key players in the roadmap.it deals with the roles and responsibilities Stakeholders, Process sponsors, Benchmarking team facilitator, Responsibilities of benchmarking team members Research resources ROADMAP HAVING FOUR STEPS Step-1 Planning the study Step-2 collecting the data Step-3 analyze the data Step-4 adopt the data

6. PLANNING THE STUDY- WEDNESDAY This is the main step of roadmap of Benchmarking It considered two identifying benchmarking Process classification framework Mission and vision statement Critical benchmarking Identifying what process we are going to benchmarking Following steps for planning the study Form the benchmarking team Establish the process to be benchmarked Document the current process Define topic areas for data collection COLLECTING THE DATA - THURSDAY It is the second main step of the benchmarking roadmap. It involves collecting the data. The collecting of data can be of four main phases Internal analysis External research Primary investigation A visit site

7. KEY STEPS FOR COLLECTION OF DATA Identifying the potential benchmarking partner Plan the data collection methods Conduct a primary investigation Prepare for a visit site Write the site reports ANALYSING AND USING DATA - FRIDAY Collected data can be analyzed, examine the issue involved in using a data to adopt current practice It shows how to analyze the collected data This is the final two steps of benchmarking The study can come into implementation plan Now it completed our run through plan of branchbanking HOW TO ANALYSE THE DATA Normalize the performance of data Construct a comparison matrix Identify the best practices Isolate the involved process enables

8. MAINTAINING LEADERSHIP - SATURDAY Maintaining and updating the database Continuous self-assessment Benchmarking and improvement award Pitfalls and temptations in benchmarking it requires a strong degree of commitment from all other involved. It is not easy and not for faint-hearted CONCLUSION IT PROVIDES A STEP-BY-STEP PROCESS OF BENCHMARKING Understanding the principles What and who to benchmark Collecting and managing data Building the evolutionary organization THANK YOU