Benchmarking Case Study:
Benchmarking is the process of the company’s analysis and evaluation of the examples of the successful work of other companies with the purpose of improvement of its own work. The main processes related with benchmarking are evaluation and comparison. Most often, the role of an example of the successful and profitable company play the firms and great corporations which have already achieved something and occupied their steady places on their sectors of the market. It is quite wise to pay attention to the developed and prosperous companies while establishing your own firm. One is able to study the history of the establishing of the company, the stages of its development, the variety of its activity and production. Naturally, it is easier to learn on the mistakes of other people, so the example of the development of the other company can be quite useful.
Benchmarking is treated like one of the methods of the decision making and creation of the company’s strategy but very often this method is not useful and even harmful for the novice firm.
The most obvious obstacle is the lack of the valid information about the real activity of the example company and the real reasons of its success. The majority of the famous and profitable companies have closed the whole information about their activity from the access of the third people, so it is fairly impossible to learn about the objective situation related with the secrets of the company’s success.
Benchmarking can be called an interesting and useful topic for the research, because the student is able to observe new and new methods aimed at the improvement of the company’s activity and its decision making. Dwelling on the issue on benchmarking one can observe the usefulness of this technique on practice analyzing the definite case on it. The student can pay attention to the chosen firm and study how benchmarking has influenced its success and the way of its development. The student is expected to learn about the cause and effect of the company’s success or failure evaluating the impact of the example firm on this process. The student’s duty is to evaluate the role of benchmarking for the company’s success and the process of its development.
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