Chapter%208:%20Benchmarking - PowerPoint PPT Presentation

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Chapter%208:%20Benchmarking

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Chapter 8: Benchmarking Stacey Beavin Stacey Knight Carla Wesner Benchmarking Systematic search for best practices, innovative ideas, and highly effective business ... – PowerPoint PPT presentation

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Title: Chapter%208:%20Benchmarking


1
Chapter 8Benchmarking
  • Stacey Beavin
  • Stacey Knight
  • Carla Wesner

2
Benchmarking
  • Systematic search for best practices, innovative
    ideas, and highly effective business operating
    procedures
  • A tool to achieve best business practices, NOT a
    strategy
  • Makes a company look outside itself to determine
    if they are staying competitive in the market
  • Often hard to identify best-in-class performers

3
Benchmarking Process 6 Steps
  • Decide what to benchmark
  • Organizations need to decide where they want to
    be in the marketplace
  • This is determined by use of vision and mission
    statements
  • Critical success factors

4
  • Understand Current Performance
  • Flow diagrams, cause-effect charts
  • Quantify
  • Plan - What type of benchmarking will be
    performed?
  • Internal looking at similar processes in a
    different operating division of the same
    organization
  • Product competitors Check out what your
    competitors are doing
  • Process Look at similar processes in other
    industries

5
  • Study Others
  • On-site visits
  • Questionnaires, surveys
  • Learning from the Data
  • Negative gap (external processes better than
    internal
  • Parity (process performances equal)
  • Positive gap (internal process better than
    external)
  • Description of a process must be detailed and
    quantifiable

6
  • Use the Findings
  • Translate into goals and objectives
  • Process owners and upper management must buy-in
  • Execute the plan
  • Specify tasks
  • Sequence tasks
  • Determine resource needs
  • Establish a task schedule
  • Assign responsibility for each task
  • Describe expected results
  • Specify methods for monitoring results

7
  • Discussion Questions
  • What is the difference between a benchmark and a
    goal?
  • What is breakthrough performance?
  • Based on your current experiences, what areas do
    you feel are weak and could benefit from a
    benchmarking study?
  • What product competitors do you think could be
    used?
  • What other organizations could you use to
    establish process benchmarks?
  • Which part of the benchmarking process do you
    think would be most likely to collapse?
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