Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Effectiveness of Benchmarking as a Performance Improvement Strategy - Research Proposal Example

Comments (0) Cite this document
This proposal finds out the extent to which benchmarking has been used as a strategy and with what success. The author notes that most of the companies that are listed in the fortune top 500 have at one time or another employed the strategy of benchmarking in an effort of improving performance. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful
Effectiveness of Benchmarking as a Performance Improvement Strategy
Read TextPreview

Extract of sample "Effectiveness of Benchmarking as a Performance Improvement Strategy"

Download file to see previous pages Essentially benchmarking involves “carrying out an audit on two fronts” (Evans 138). One needs to identify current processes and practices in a business or organization and then probe their weaknesses. The next step involves the identification of companies that have proved to be experts in a given field and then trying to match or even better their performance. The rationale behind benchmarking is that if you do not know what the best practices in the industry are, then chances of being the best are almost zero. It is also a tried and tested method of matching competitor strength and even eclipsing them in the market place.
A good example where benchmarking has been used lately is in the field of mobile technology. Apple Inc caused a stir when it introduced the hugely popular touch screen phone the iPhone. Coupled with its top-notch marketing strategy, the company easily set the benchmark in trendy mobile technology. Not to be outdone, rivals such as Nokia and Samsung used Apple’s touch technology to produce mobile phones which have gained a foothold in the market and proved to be worthy competitors. 
According to Damelio, benchmarking is a “process and not an event” (71). It involves constantly looking outside the organization to learn the tricks of achieving excellence in an organization. In other words, it is a learning experience and once the lesson is learned then the process is applied in the company. The first step in the process of benchmarking involves a thorough understanding of the current norm of business and then analyzing the business practice of others who are considered the pacesetters in the industry. The first step in the process of benchmarking involves a thorough understanding of the current norm of business and then analyzing the business practice of others who are considered the pacesetters in the industry.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Effectiveness of Benchmarking as a Performance Improvement Strategy Research Proposal, n.d.)
Effectiveness of Benchmarking as a Performance Improvement Strategy Research Proposal. Retrieved from
(Effectiveness of Benchmarking As a Performance Improvement Strategy Research Proposal)
Effectiveness of Benchmarking As a Performance Improvement Strategy Research Proposal.
“Effectiveness of Benchmarking As a Performance Improvement Strategy Research Proposal”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Effectiveness of Benchmarking as a Performance Improvement Strategy

Performance Management System Improvement

...? Performance Management System Improvement Performance management can be defined as a process involving management, identification,measurement and development of an organization’s human resources. Performance management is conducted to ensure that the productivity by the employees is maintained after their employment. To enhance the performance of the employees over time, it is considered important to evaluate their output to increase the efficiency of the organization (Warner, 2002). In essence, the employees’ output is figured out and ways to improve the performance level formulated. The obtained results after evaluation are used to improve on the organization’s output, effectiveness and efficiency over time. An organization generally...
7 Pages(1750 words)Assignment


The objective of this report is to highlight the methods that could give an exact idea of the performance of the companies and how well they use their resources. This report doesn’t consider just one perspective for the judgment of the company. Its discussion is on the basis of both the financial and non-financial factors of the company. Besides these market perception and working environment with the potential of and for the workforce have been order to gain the complete perspective of the companies. In this report the two companies selected for the benchmarking or comparison are not only the leading companies in their industry but also on of the biggest companies overall in the global ranking. The report gives the...
20 Pages(5000 words)Essay

Performance Management Through Benchmarking Simulation

The Nursing Administrator reasoned out that there is unavailability of equipment at the floor where the patients are being treated. She said that nurses spend most of their time looking for equipment on other floors that's why patient care is affected. Because work was getting delayed, nurses are not able to check anymore if the equipments are sanitized. Sometimes improperly cleaned equipment was used. The Materials Manager suggested purchasing enough equipment to be made available for each floor. But according to the Chief Financial Officer, Lenity annually spends much to ensure sufficient equipment and he guaranteed that there is enough for hospital requirements. He advised that nurses should instead be more careful about equip...
6 Pages(1500 words)Essay

Performance Evaluation & Competitive Benchmarking

...Performance Evaluation & Competitive Benchmarking Performance Evaluation & Competitive Benchmarking Introduction Since the market is accommodative and accepts free and voluntary entrance and exit, it has become too competitive to operate and successfully run any business enterprise. The viability of the hospitality sector has made it to e too competitive. This fact can be used to justify the high level of competition in the hospitality business in San Francisco. This paper carries out an in-depth and critical evaluation of the level of services and competition between the “Trace” Restaurant and Taj Campton Place Restaurant, San Francisco. It does this by analyzing the clients’ reviews in Yelp, Trip Advisor and social media about...
7 Pages(1750 words)Research Paper


...Performance Evaluation and Competition Benchmarking ID Performance Evaluation and Competition Benchmarking Palomar Hotel Palomar hotel provides the same services in the hotel industry as its competitor Monaco hotel. In quest to identify the services provided by the hotel, the data collected represented the staff employed to provide services, the room cleanliness, the bathrooms, the beds among other aspects. Most of the customers valued these most and they seemed to have an impact on the level of satisfaction of the customers more compared to the others. The use of the system in relation to gathering, review and understanding of guest experiences provides results that are more reliable (Guest Feedback Suite- Revinate, n.d). Revinate...
5 Pages(1250 words)Research Paper

Performance Improvement

... to review their health delivery policies and think how their health budget could effectively enhance patient experience. Evidences suggest that efficiency of workflow is the key to improve patient experience, and in turn a number of factors such as time, process designs, and procedural efficacy may influence workflow efficiency. This performance improvement paper will discuss how improving workflow can contribute to enhanced patient experience by reducing wait-times. The paper will also address the outcomes of a one on one meeting with the finance team, patient experience team, and patients. Improving Workflow and Patient Experience The term workflow refers to the sequence of administrative and other processes through which a particular...
8 Pages(2000 words)Research Paper

Benchmarking in Performance Management

... competitors since as a strategic tool; the business can find new strategies to compete. There are myriads of issues in benchmarking. Benchmarking has attracted a lot of criticisms from both international business managers and local business people. One such challenge is that of putting much effort on focusing on the numbers. Francis and Holloway (2007, pg. 175) point out that as benchmarking involves evaluating figures of a particular data, many financial managers are much concerned with figurative analysis. If a company is performing well in terms of profitability, the other firms in the industry would try to emulate it by benchmarking in terms of profit margins. Even though, this is not an appalling method of ensuring improved results...
8 Pages(2000 words)Literature review

Performance Improvement Evaluation Approach

... Assignment, Human Resources (HR) From the research-based performance improvement evaluation approach by Richard F. Gerson, I learned that about the current systems, change is innovative. The approach is concerned with the assessment of the learner improvements in business or any other work setting that the course focuses on. Many organizations embrace the objective of making changes that will improve the satisfaction of the customer (Richard, 2009). The approach evaluates the difficulties that exist in the accomplishment of change and performance improvements in organizations. It takes time for an organization to meet objective meet its objectives. Thus, the approach is devoted to carrying out daily assessment and monitoring...
1 Pages(250 words)Assignment

The Marketing Communications Strategy & Mix: Sports Company

Despite the challenges that Adidas met in the 90s from fierce competitor Nike, the company hit the rebound by the end of that decade and has reclaimed its position as one of the leading sports companies nationwide. Considering that the company almost went bankrupt at its lowest point, it managed to rise and compete once again in the market.
With Adidas’ position in the sports apparel industry, this research aims to find out and evaluate the various marketing communications strategies that Adidas has implemented over the years. Further, this research aims to be able to identify which strategy is proven to be most effective, and which did not bring the desired results.

Football is undoubtedly the most popular s...
9 Pages(2250 words)Case Study

Company Strategy to the Public Sector

The definition of corporate strategies emphasizes the need for the organization to satisfy the needs of all the stakeholders if the organization is to achieve its overall objective of maximizing shareholder value. Stakeholders include employees, customers and the communities in which the organization operates. Employees, customers, and communities, therefore, have a significant impact on the success of the organization and thus on the corporate strategy of the organization. In formulating corporate strategy, organizations need to identify and priorities strategic issues, which involve scanning, selecting, interpreting and validating information. (Schneider, 1989).
The aim of this paper is to explain the strategy of an organiz...
7 Pages(1750 words)Assignment

Developing a Strategy to Enhance Workplace Learning in Workplace at Travelex Foreign Exchange

As earlier stated, I have chosen to answer Option No. 1 which is about drafting and crafting a strategic plan which can be implemented in my workplace as a learning workplace on the basis of its analysis and identification made in the earlier assignments. As also required, the initial paragraph, following this, makes a brief review of what has been done in Assignments 1 and 2. Since as a Training Coordinator, my job entails the induction, training and assessment of the progress of the new hires, I have focused my answer to these three areas and divided the paper into Induction and Training, and; Assessment/Evaluation.

The first assignment was about the physical and social environments of the workplace and in that assign...
8 Pages(2000 words)Assignment

Evaluation of Performance of a Bank Using Published Accounting Data

The performance of a bank is evaluated because of various reasons. The banks evaluate their performance to find out the outcomes of previous decisions of management. The bank regulators evaluate the performance of the banks to identify the banks, which are facing severe problems. Evaluation using the published data is also needed by shareholders to make decisions such as whether to buy or sell a share of banks. Furthermore, investment analysts advise their prospective investors regarding the selection of banks for making investments after performance evaluations of banks.

There are different ways, which have been used to evaluate the performance of the banks. When the performance is analysed through available published...
7 Pages(1750 words)Case Study

Global Strategy for Crappy Shades

The company increased its workforce from 150 to 450 workers. The increased personnel was necessary to cater to a wider market but it also brought with it a variety of other problems like increased input cost and problem in labor management. Crappy shades are suffering from high costs which is clear from the financial data which says that out of a revenue of 35 million pounds a profit of 2.5 million pounds generated. The Net profit ratio is 7% which is far below the industry standard and does not maximize the value of shareholders. It is clear that the company is suffering from high direct costs, as the marketing activities comprise only 15% of the total sales. The company was also affected by the global economic downturn as well a...
7 Pages(1750 words)Case Study

Increasing Public-sector Effectiveness by Changing Organisational Culture

...Increasing Public-sector Effectiveness by Changing Organisational Culture A study has been conducted to determine a model for organisationaleffectiveness in public-sector organisations. The organisational culture is shaped by organisational structure, environment, and values, beliefs and underlying assumptions. Effectives in public sector organisations can be improved by the development of an organisational model based on an understanding of relationships between variables. Performance measurement systems are required necessary for measurement and monitoring of effectiveness. Organisational Structure Organisations have structures. Structures include degree or type such as horizontal differentiation, vertical differentiation, mechanism...
10 Pages(2500 words)Coursework

The Trends in the Steel Industry and How It May Impact Nucor Corporations Strategy

The whole organization at Nucor’s revolves around the laid principles and focus on reinforcing to the extent that the organization is known for its culture and quality. Simultaneous quality checks and adherence are also as important building a strong culture for the organizations.

Nucor Corporation has always tried to challenge itself for further progress and to keep abreast of the industry of steel business.

Let us look at the trends observed in the business of the steel industry. The trend in the steel industry is very dynamic and always impacted by internal and extraneous factors. For almost 50 years the United States of America reigned in the industry of steel production, almost half of the entire p...
8 Pages(2000 words)Case Study

The Companys Performance in Society

Microsoft’s flagship product, Windows, is the standard operating system for any IBM PC. There are alternatives such as Linux or Mac OSX however Microsoft’s Windows has remained a dominant force in the market. This has given the company a high degree of recognition as people become accustomed to the system's procedures and processes. It can be very difficult for some people to make the leap from one operating system to another.
Since Microsoft’s inception in the 70s, they have grown from strength to strength. There estimated current revenue is $53.4 billion showing the enormous achievements of this company. This familiarity between product and customer has been solidified over the years as people have been ex...
7 Pages(1750 words)Case Study

What to Consider in Structure-Conduct-Performance Model

The best possible outcome for SA is when it plays L while SS plays U and the best possible outcome for SS is when it plays L, and the other plays U. These outcomes (L, U) and (U, L) are difficult to achieve. This is because these strategies are not dominant for both. There is an incentive for one player to deviate.
If the prices are decided every week then the strategy would change in terms of the components. For the repeated games, the Nash equilibriums of all the sub-games are the same as the equilibrium of each one-shot game. The number of components in the strategy would increase because of the repetition of the game (both would still play L, L) however the pay off associated with the game would be increase by times of th...
6 Pages(1500 words)Essay

Performance Management Process: General Electric

General Electric (GE) is considered as the most successful multinational organization in the world.  It is known for peculiar strategies, practices and management patterns, specifically instrumented by its erstwhile CEO, Jack Welch.  According to Welch, the performance-driven culture is the basis for all success at GE. Jack Welch is one of the toughest leaders who has played a vital role in removing bureaucracy and bringing positive change in terms of performance evolution, vitality curve, training and development facilities, etc.

According to Campbell et al, performance is a behavior or action meant to achieve the organization’s goals, which can be measured (cited by Latham, Sulsky & MacDonald, 366)...
6 Pages(1500 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Proposal on topic Effectiveness of Benchmarking as a Performance Improvement Strategy for FREE!

Contact Us