Productivity

Benchmark

Benchmarking is the process of identifying "best practice" in relation to both products and the processes by which those products are created and delivered.

The Centre has a range of benchmarking tools and services that will assist you to compare your company with International Best Practices.

What is benchmarking?

Benchmarking is the process of identifying "best practice" in relation to both products and the processes by which those products are created and delivered. The search for "best practice" can take place both inside a particular industry, and also in other industries (for example - are there lessons to be learned from other industries?).

The objective of benchmarking is to understand and evaluate the current position of a business or organisation in relation to "best practice" and to identify areas and means of performance improvement.

The Benchmarking Process

Benchmarking involves looking outward (outside a particular business, organisation, industry, region or country) to examine how others achieve their performance levels and to understand the processes they use. In this way benchmarking helps explain the processes behind excellent performance. When the lessons learnt from a benchmarking exercise are applied appropriately, they facilitate improved performance in critical functions within an organisation or in key areas of the business environment.

Application of benchmarking involves four key steps:

  1. Understand in detail existing business processes
  2. Analyse the business processes of others
  3. Compare own business performance with that of others analysed
  4. Implement the steps necessary to close the performance gap

Benchmarking should not be considered a one-off exercise. To be effective, it must become an integral part of an ongoing improvement process, with the goal of keeping abreast of ever-improving best practice.

If you would like more information, please contact the Centre for Competitiveness on +44 (0) 28 9073 7950 or email compete@cforc.org.

How it can benefit you

  • Compare your innovation performance against Global and European Best Practice benchmark – over 2500 European companies
  • Identify your strengths to help you drive Competitive Advantage.
  • Identify weaker areas of performance and focus improvement.
  • Discover new market and new product/service opportunities.
  • Embed a Quality Culture and an ethos of Continuous Improvement.
  • Improve, develop and evolve your processes with a structured and systematic approach that will drive repeated and sustained high performance.

The Benchmarking Process

Choose Benchmark Type
Gather Information
Analyse
Improvement Action Plan