I need to describe an area of improvement for a company or industry of choice. And find two benchmarks for the improvement area:
1.) In a like company or industry.
2.) In a company or industry that does not participate in the same type of business.
Discuss pertinent benchmarking information that makes this a good choice. Also discuss effective and ineffective uses of benchmarking.© BrainMass Inc. brainmass.com December 15, 2020, 8:45 pm ad1c9bdddf
Benchmarking is a process, which evaluate various aspects of their processes in relation to best practice, usually within their own sector. This then allows divisions/organizations to develop plans on how to adopt such best practice, usually with the aim of increasing some aspect of performance.
Benchmarking opens organizations to new methods, ideas and tools to improve their effectiveness. It helps crack through resistance to change by demonstrating other methods of solving problems than the one currently employed, and demonstrating that they work, because they are being used by others. As per the global benchmarking standards, it will improve its processes. Organizations should ...
Solution discusses the Benchmarking