Is defined by CIMA as ‘The Establishment, through data gathering of targets and comparators, through whose use relative levels of performance (and under performance) can be identified. ’[CIMA, 2008] This definition explains in my mind that benchmarking is the comparison of one/ several company’s comparison of relative factors to another’s. Therefore seeing how a company’s best practise differs to your own. There are several types of benchmarking that a company may use; Internal, Functional, Competitive and Strategic.
A company may use internal benchmarking to compare different processes within the same departments. If they use functional benchmarking then they are mainly looking their departments and which runs better regardless of their different outputs. Competitive benchmarking is information gathered about direct competitors and finally strategic is a longer term benchmark technique. This is used for companies looking for organisational change.
The main advantage for benchmarking is to “set the foundation for performance improvement” to help “better competitors” [Nayab, 2010] and overall be the best company in the Market place. On the other hand a disadvantage is; how readily available is all the information you require to benchmark? Business Process Re-engineering Is defined by Drury as “examining business processes and making substantial changes to how the company operates”. [Drury C, 2008] BPR is a major tool used by business because they want gains in performance and quality, and they need to cost reductions to strive for profit maximisation.
When re-engineering processes they look at what has been done and try to improve it. A typical example may be: Building a car by hand takes a considerable long time, however if they changed the process to the car being built by a robot, then they could increase performance and quality. However there are many negatives to usage of BPR. It has an uncertain result because it is an all or nothing technique (high risk). In addition it is said that
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more