Benchmarking principles as a tool in marketing strategy for organizational development

Change Management is the discipline that guides how we prepare, equip, and support individuals to successfully adopt a change to drive organizational success and outcomes
Share on facebook
Share on twitter
Share on linkedin

Benchmarking

INTRODUCTION

What is Benchmarking?

It is simply the comparison of one organization’s practices and performance against those of others. It seeks to identify standards, or “best practices,” to apply in measuring and improving performance.

Why Benchmark?

1) Identify opportunities

2) Set realistic but aggressive goals?

3) Challenge internal paradigms on what is possible?

4) Understand methods for improved processes?

5) Uncover strengths within your organization?

6) Learn from the leaders’ experiences?

7) Better prioritize and allocate resources Performance Improvement

OUTLINE NOTE TO BENCHMARKING PROCESS

1)Why Benchmark?

2)  Selecting Targets

3)Terminology

4)Cost / Benefit analysis

KEYS TO SUCCESSFUL BENCHMARKING

1) The Process

2)    Tools

3)    Identifying Candidate Partners

Comparing Scenarios: Between without Benchmarking & with Benchmarking

GUIDANCE POINTS / VIEWS WITHOUT BENCHMARKING WITH BENCHMARKING
DEFINING CUSTOMER SPECIFICATION 1) Based on history/got feel 1) Based on market reality
2) Acting on perception 2) Acting on objective evaluation
ESTABLISHING EFFECTIVE GOALS 1) Lack of external focus 1) Credible, customer-focused
2) Reactive 2) Proactive
3) Lagging industry 3) Industry leadership
DEVELOPING TRUE MEASURE OF PRODUCTIVITY 1) Pursuing pet projects 1) Solving real problems
2)Strengths and weaknesses not understood 2)Performance outputs
known based on best in class
BECOMING COMPETITIVE 1) Internally focused 1)understand the competition
2) Evolutionary change 2)Revolutionary ideas with
proven performance
3)Low commitment 3)High commitment
INDUSTRY PRACTICES 1) Not invented here 1)Proactive search for change
2)Few solutions 2)Many options
3)Continuous improvement 3)Breakthroughs

Competitive benchmarking is a special area of competition monitoring and assessment .it implies a measuring process through which the strategy and operative measures of our own company are compared with those of the best companies both within and beyond strategic groups or even with those of a company in different ways.

FOUR MAIN STEPS  AS A TOOL IN MARKETING STRATEGY FOR ORGANIZATIONAL DEVELOPMENT

STEP ONE:  To identify the company to be examined.

STEP TWO:  To determine the factors to be examined.

STEP THREE: To collect relevant data needed for analysis.

STEP FOUR: To make COMPARISON

Through benchmarking we can make comparison i.e compare our own processes with those of the best company so that measures that need to be taken become apparent.

Thank you.

You can see more of our management training, business, and marketing materials HERE.

Leave a Comment