Why it fails?
- The process is not driven by results
- Unclear objectives
- Leading team is not credible
- Lack of stakeholder involvement/buy-in
- Poor up-front planning
- Organization becomes defensive
- Study becomes delaying mechanism
- Misinterpretation of data
- Seen as solution - not the starting point
"Benchmarking"frequently used databases
- Top performing companies
- World-class manufacturing
- World-class purchasing
- Leadership practices in marketing
- Financial leadership
Why to do it?
A company can speculate, but it does not know, factually,
how it ranks with the best companies in the specific, critical areas of performance
what magnitude of difference is required to close the gap
what nature of change is needed to achieve best-of performance
A company usually knows, in broad details, its comparative financial performance, but it does not know where the specific problems and opportunities exist for taking a significant step ahead. Therefore, any company can benefit from fresh, objective insight on its performance relative to the best.
"Benchmarking is the best focus!"
challenge to win