Benchmarking
About Benchmarking
Benchmarking
is a process of measuring the performance of a company’s products,
services, or processes against those of another business considered to
be the best in the industry, aka “best in class.” The point of
benchmarking is to identify internal opportunities for improvement. By
studying companies with superior performance, breaking down what makes
such superior performance possible, and then comparing those processes
to how your business operates, you can implement changes that will yield
significant improvements.
That might mean tweaking a product’s
features to more closely match a competitor’s offering, or changing the
scope of services you offer, or installing a new customer relationship
management (CRM) system to enable more personalized communications with
customers.
Why is Benchmarking important?
In addition to helping companies become more efficient and profitable, benchmarking has other benefits, too, such as:
• Improving employee understanding of cost structures and internal processes
• Encouraging team-building and cooperation in the interests of becoming more competitive
• Enhancing familiarity with key performance metrics and opportunities for improvement company-wide
• Gain an independent perspective about how well you perform compared to other companies
• Drill down into performance gaps to identify areas for improvement
Who should take the Benchmarking Exam?
• All - business professionals looking for self/ business performance
• Business process owners seeking improvement
• Entrepreneurs or Innovators
• Anyone who wants to assess their benchmarking skills
• Benchmarking consultants
• Any professional with skills and knowledge on benchmarking
• Students
Benchmarking Certification Course Outline
1. Benchmarking Basics
2. Benchmarking Process
3. Assess
4. Analyze