Benchmarking Paper
Benchmarking for Quality Benchmarking can be used in several different aspects from education, sports, and business. Since benchmarking has so many different facets it can be define in different ways. The definition consists of the how an organization is structure, to implementing the best practice for the organization, and identifying practice or procedures that will drive a company’s performance. (Shah & Kleiner, 2011) Bench marking can be a continuous process based upon the quality presented. According to the article by Shah and Kleiner benchmarking influences the quality of services and or productivity. The article presented the history of benchmarking which stated, “Some of the performance improvement that …show more content…
(Dodd & Turner, 2000) The success rate of benchmarking has transitioned to the smaller business owner. According to Meder, “small businesses contribute about 50% of the U.S. gross domestic products. Two-thirds of the new jobs are created by small businesses. The financial industry spending in the small business market segment is expected to grow at a 12.8% annual rate.” (Meder, 2008) The benefits of benchmarking when applied appropriate for small business can be rewarding both financially and improving the overall performance other the operations. Small business should embrace benchmarking and learned the necessary steps to increase production and visibility. (Dodd & Turner, 2000)
Conclusion
In closing, the overall paper discussed the quality of benchmarking in an organization. Further facts presented by case studies of the advantages and risk of applying benchmarking. From the information provided one can conclude executing benchmarking is beneficial for large corporations and small
Benchmarking for Quality Benchmarking can be used in several different aspects from education, sports, and business. Since benchmarking has so many different facets it can be define in different ways. The definition consists of the how an organization is structure, to implementing the best practice for the organization, and identifying practice or procedures that will drive a company’s performance. (Shah & Kleiner, 2011) Bench marking can be a continuous process based upon the quality presented. According to the article by Shah and Kleiner benchmarking influences the quality of services and or productivity. The article presented the history of benchmarking which stated, “Some of the performance improvement that …show more content…
(Dodd & Turner, 2000) The success rate of benchmarking has transitioned to the smaller business owner. According to Meder, “small businesses contribute about 50% of the U.S. gross domestic products. Two-thirds of the new jobs are created by small businesses. The financial industry spending in the small business market segment is expected to grow at a 12.8% annual rate.” (Meder, 2008) The benefits of benchmarking when applied appropriate for small business can be rewarding both financially and improving the overall performance other the operations. Small business should embrace benchmarking and learned the necessary steps to increase production and visibility. (Dodd & Turner, 2000)
Conclusion
In closing, the overall paper discussed the quality of benchmarking in an organization. Further facts presented by case studies of the advantages and risk of applying benchmarking. From the information provided one can conclude executing benchmarking is beneficial for large corporations and small