What are the different types of benchmarking, Business Management

Assignment Help:

Problem

What are the different types of benchmarking and explain the reasons for Benchmarking?

Different types of bench marking

  • Performance benchmarking or operational benchmarking
  • Process benchmarking or functional benchmarking
  • Strategic benchmarking

Reasons for Benchmarking (any four reasons given below)

  • to achieve business and competitive objectives
  • external orientation
  • helps in developing best practices
  • time and money are saved
  • helps in developing healthy competition
  • helps an organisation to identify whether they have fallen behind in competition
  • enhances innovation

 


Related Discussions:- What are the different types of benchmarking

Explain the organisational structure, Probelm 1: An organisational stru...

Probelm 1: An organisational structure defines how job tasks are formally grouped and coordinated. (a) What are the key elements considered when designing an organisation's

Difficulties associated with intercultural communication, QUESTION a) Y...

QUESTION a) You have been appointed as Operation Manager for a company based in a foreign country .In this context, Explain the difficulties that you might encounter while comm

International Business, Based on the article Nearshoring in Latin America,...

Based on the article Nearshoring in Latin America, what are the short- and long-term implications of nearshoring given the current economic conditions?

Write a note on classification of business objectives, Q. Write a note on c...

Q. Write a note on classification of business objectives? 1) Economic Objectives - Functions of customer Segment - Innovations - Optimum use of resources 2) Social Objectives -

Value-focused view, Taken together, the organisation's external environment...

Taken together, the organisation's external environment, internal context and core purpose form the basis of the its value proposition - which is an articulation of the organisatio

Improvement production process, The table below lists the seven wastes as t...

The table below lists the seven wastes as the target for continuous improvement production process. 1. Waste of Overproduction : eliminate by reducing setup times synchronizing qu

Describe how we learn new behaviours by operant conditioning, QUESTION 1 ...

QUESTION 1 (a) Define Learning (b) What are the different methods of learning? In operant conditioning, the patterns of rewards, punishments, and other consequences encourag

What are the different types of benchmarking, Problem What are the diff...

Problem What are the different types of benchmarking and explain the reasons for Benchmarking? Different types of bench marking Performance benchmarking or operationa

Domestic market-based organization, Scenario - Imagine you are a newly grad...

Scenario - Imagine you are a newly graduated MBA who has just been appointed as a special consult to the CEO of a major domestic market-based organization. They wish to expand into

How should handled a good grievances, How should handled a good grievances?...

How should handled a good grievances? A good grievances handling must: a. It must be simple, easy to know and to operate b. It must settle grievances at lower level c.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd