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Benchmarking: A new tool

Authors: Panse C.P.

Journal: Pestology

Publication date: 1997

Publisher: Pestology

URL: click here


Abstract:

Global competitiveness is a bit like tennis: You get better at it by playing against people who are better than you. Merely doing all right against regional competition is not a sufficient test when the best practices are lurking somewhere else around the globe. Benchmarking is understanding what is the 'best' the others are doing that satisfies customers wants and at what level we are working. It further helps to plan the strategy to bridge this gap and improve oneself. It is a judgemental process and it would prove vital in achieving success in global competition for an organization.