Benchmarking
- Created by: tanja soulsby
- Created on: 02-06-17 13:52
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- Benchmarking
- Studies other businesses with high quality standards and innovates by adopting same methods
- Can do this by joining benchmarking groups where firms agree to share information about their processes
- Benchmark internally
- Study activities in efficient departments to innovate processes
- Benchmark across different industries
- e.g Tesco Click + Collect - benchmark of drive thru fast food
- Tends to motivate staff
- More encouraging to introduce process already used
- Provides early warnings about technology or methods that might allow them to be overtaken
- Downsides
- Won't directly lead to new products
- Competitor products likely to be protected by patent or copyright
- Processes can't always be transferred between different corporate cultures
- Won't directly lead to new products
- Studies other businesses with high quality standards and innovates by adopting same methods
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