Bench Marketing:

Benchmarking is the process of determining who is the very best, who sets the standard and what that standard? David Kearns defines benchmarking as the continuous process of measuring products, services and practices against the toughest competitors or those companies recognized as industry leaders. Throe defines benchmarking as the systematic comparison of elements of performance of an organization against those of other organizations usually with the aim of mutual improvement. Benchmarking aims at a goal setting process to facilitate comparison with the best. It aims at motivating and stimulating company employees towards the goal of continuous quality improvement. It aims at external orientation of the company. It aims at searching for industry best practices. Integration is the process of using benchmark findings to get operational targets for change. It involves careful planning to incorporate new practices in the operation and ensures that benchmarking findings are incorporated in all formal planning process. Demonstrate the benchmark findings to the management for their acceptance. Communicate the benchmark findings to all organizational levels to obtain supports commitment and ownership. On the basis of communicated data and acceptance of analysis establish the functional goals and achieve them through the benchmarking process. Maturity phase would be reached when best industry practices are incorporated in all business processes.