Benchmarking final

Module 1 BENCHMARKING By Sanjeev Rathod.

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WHAT IS BENCHMARKING? The continuous process of measuring our products, services and practices against our toughest competitors of those renowned as leaders. ,[object Object],[object Object],[object Object],[object Object],[object Object]

BENCHMARKING ENCOURAGES MANAGED CHANGE The gap between internal and external practices creates the need for change. Understanding industry best practices identifies what must change Externally benchmarked practices provide a picture of the potential results from change.

WHAT TO BENCHMARK? ,[object Object],[object Object],[object Object],[object Object]

TEN STEP BENCHMARKING PROCESS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

TEN STEP BENCHMARKING PROCESS (CONTD..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP – 1: IDENTIFY SUBJECT FOR BENCHMARKING ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP - 1 : IDENTIFY SUBJECT FOR BENCHMARKING (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP – 1: IDENTIFY SUBJECT FOR BENCHMARKING (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object]

STEP – 1: IDENTIFY SUBJECT FOR BENCHMARKING (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP – 2 : IDENTIFY BENCHMARKING PARTNERS WHO ARE THE BEST COMPANIES? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],BEST COMPANY : A company with which you are directly competing with or a company which is' considered an industry leader in a specific area. GUIDELINE A : Prepare a list of companies whom you consider competitors or industry leaders . For this you may ask

STEP – 2 : IDENTIFY BENCHMARKING PARTNERS WHO ARE THE BEST COMPANIES? (contd..) ,[object Object]

STEP – 3 DATA COLLECTION METHODOLOGY The way by which one will collect the Data for the subject of study. GUIDELINE A : Preparation of a list of questions that will be used to gather the data required. The questions should be clear with the units of measurement clearly defined. GUIDELINE B : Prepare the answers for your own operation. Answering the questions for ones own organization, will provide a validation of the questions and a base for initial analysis.

STEP – 3 DATA COLLECTION METHODOLOGY (contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],GUIDELINE C : Search for existing data Before conducting original research one should search thoroughly for existing data that is from data from studies already completed. Data may be: Internal to your company Salesmen , Customer service Personnel , Suppliers Public Domain

STEP – 3 DATA COLLECTION METHODOLOGY (contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],GUIDELINE D : Review the methods for conducting original research GUIDELINE E : Select the method for conducting research Review The purpose of the project List of questions Considering the relevance of the project, a balance sheet of each of the different methods is to be prepared as addressed below: Time availability for the project Complexity of information to be gathered Availability of specialized skills

STEP – 3 DATA COLLECTION METHODOLOGY (contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP –4: DETERMINE THE CURRENT COMPETITIVE GAP ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP –4: DETERMINE THE CURRENT COMPETITIVE GAP (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP –4: DETERMINE THE CURRENT COMPETITIVE GAP (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 5 : DETERMINE THE PROJECTED COMPETETIVE GAP ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 6 : COMMUNICATE BENCHMARK FINDINGS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 6 : COMMUNICATE BENCHMARK FINDINGS (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 7 : DETERMINE THE FUNCTIONAL GOALS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 7 : DETERMINE THE FUNCTIONAL GOALS (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 8 ACTION PLANS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 8 ACTION PLANS (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 8 ACTION PLANS (Contd..) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

STEP 9 : IMPLEMENTATION OF ACTION PLANS AND MONITORING PROGRESS ,[object Object],[object Object],[object Object],[object Object]

STEP 10 : PLAN FOR RECALIBRATION ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

QUESTIONS TO PONDER BEFORE BENCHMARKING ,[object Object],[object Object],[object Object],[object Object],[object Object]

Note ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Legal Aspects of BM study ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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