Benchmarking

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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

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