Types of Benchmarking
- Created by: CharlotteByrne
- Created on: 25-03-18 19:14
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- Types of Benchmarking
- Strategic Benchmarking
- Used to improve overall performance.
- Looks at long-term strategies/general approaches of high-performers.
- Core Competencies, new products/sevices
- Most appropriate for business strategies that = innapropriate
- Used to improve overall performance.
- External Benchmarking
- Analysis of best in class outside organisations
- Lot of time + resources required
- Most appropriate for good practice examples are found in other organisatoins
- Performance or competitive Benchmarking
- done through trade associations or third parties = protect confidentiality
- Most appropriate for assessing performance in key areas compared to similar firms.
- Used when performance characteristics of key products and services are considered.
- International Benchmarking
- Best practitioners found + analysed elsewhere in the world.
- Globalisation
- Most appropriate for aim to achieve world class status
- Functional Benchmarking
- Can lead to innovation + improvements
- Benchmark with partners from different business sectors.areas
- Most appropriate for improving activities/services for which counterparts don't exist
- Internal Benchmarking
- Access to sensitive date is easier
- Less time + resources needed
- Fewer barriers to implementation
- Most appropriate for several business units within same organisation
- Process Benchmarking
- Focus on critical processes
- Short term benefits
- Most appropriate for ahieveing imporvements in processes
- Strategic Benchmarking
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