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benchmarking
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An important part of the benchmarking process is to validate and identify to senior management the need for security by comparing your organization to other like organizations. However, before you start your benchmarking process, you should be reasonably sure that the data you collect will validate your business proposal.
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Benchmarking allows companies to systematically adopt processes and practices that set the standard for various corporate functions. Benchmarking, however, will only succeed if it has strong support from senior management as well as clearly defined objectives. Benchmarking is most useful in quality control and environmental protection initiatives since it allows companies to set up realistic performance targets that have already been attained by others.
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The focus of this article is to show how a thorough understanding of organizational strategy and deployment of the strategy into consistent functional strategies is critical for improving the effectiveness of a benchmarking process. The article examines the impact of managerial positions and organizational sizes on utilization of strategic and operational benchmarking performance measures. Statistical results indicate evidence of misalignment between organizational mission and goals, competitive priorities, and manufacturing performance objectives. Evidence of miscommunication among managers at various levels, lack of proactive strategy to develop organizational core competencies, and inconsistent decisions with respect to managerial positions and organizational sizes is also the result...
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This paper examines a very important management tool: benchmarking, and focuses on a company which is being examined for the suitability of benchmarking with another, XYZ. The basic assumption is that XYZ has a defect rate that is slightly better than that of the company in question. The paper tries to reach a conclusion as to whether XYZ is better than the company or not. The overall aim is to portray how the concept of benchmarking works in practice.
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This paper analyzes the approaches to price benchmarking used by the FERC and by a state regulator, exemplified by California Public Utilities Commission (CPUC). The authors' choice of the California example was motivated by the 2002 passage of State Assembly Bill 57 (AB 57),16 which reforms the recovery of electricity procurement costs incurred by PG&E;, SCE, and SDG&E.17; Implementation of AB 57 by the CPUC diminishes the need for after-the-fact reviews of transactions with price terms that pass respective benchmarks for price reasonableness. In April 2004, California Governor Arnold Schwarzenegger urged the CPUC to expeditiously implement AB 57. He noted that AB 57 corrected one of the key flaws in California's electricity restructuring effort: the inability of investor-owned...
