The paper "What Is Bench Marking" is a wonderful example of a report on business. A discussion will be given on what benchmarking is, what a benchmarking exercise is, the current processes and practices in benchmarking exercise, the criteria for evaluation, and then the determination of the logical foundations done and reasons why they make sense given. Bench Marking In order to understand the processes and practices in benchmarking, it is important to first determine what benchmarking is. A benchmark is an established measurable parameter that is used to determine the progress of a business project towards its objectives or goals.
It can also be referred to as a project target or a standard (Due TBA, 2010). Benchmarking is therefore a process of ensuring that a project meets its objectives. In almost all cases, managers of the organizations set higher targets to improve the performance of the organization, they set standards that ensure the improvement of organizations' performance in relation to the aims. Benchmarking, therefore, aims to help an organization in achieving improvements (University of Leicester, 2009). Andersen & Pettersen noted that “ Benchmarking is a structured process of continuously measuring and comparing one’ s business processes against comparable processes in leading organizations with an aim of achieving improvement in the business” (1996, p.
1). In the process, information that helps in identifying improvements is obtained and improvements implemented (Andersen & Pettersen, 1996). A benchmarking exercise has three basic phases, which are; planning, analysis, and implementation. Different authors however have different views on benchmarking exercise, some describe the exercise as having five phases for example planning, analysis, integration, action maturity, others combine the last three steps of the five-phased exercise to the above-mentioned phases (ASQ, 2010).
Damelio for example considers the benchmarking exercise as consisting if analysis, discovery, and implementation (1995), while Codling, (1995) indicated that it has four stages which are; planning, analysis, action, and review.
Andersen, B. & Pettersen, P., 1996, The Benchmarking Handbook: Step-By-Step Instructions,
New York, US: Springer.
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Codling, S., 1995, Best Practice Benchmarking: A Management Guide, 2nd Ed., Guildford, UK:
Damelio, R. 1995, The Basics of Benchmarking, Cambridge, MA: Productivity Press.
Due TBA, 2010, Project Benchmarking Exercise, Viewed on 4th July 2010 from:
Cheney, S., 1998, Benchmarking, Alexandria, Virginia: American Society for Training and
Coers, M., Gardner, C., Higgins, L. & Raybourn, C., 2002, Benchmarking: A Guide for Your
Journey to Best-Practice Processes, Houston, Texas: APQC.
Fitz-enz, J., 1993, Benchmarking Staff Performance: How Staff Departments Can Enhance Their
Value To The Customer, San-Fransisco: Jossey-Bass Publishers.
John, L. K & Eeckhout, L., 2006, Performance Evaluation and Benchmarking, Boston, MA:
Karlöf, B. & Östblom, S., 1993, Benchmarking: A Signpost To Excellence In Quality And
Productivity, New York: Wiley.
McNair, C. J. & Leibfried, K. H. J., 1997, Benchmarking: A Tool for Continuous Improvement,
New York: John Wiley & Sons.
Peters, R. W., 2006, Maintenance Benchmarking and Best Practices: A Profit- And Customer
Centered Approach, New York: McGraw-Hill Professional.
Seybert, J. A., 2006, Benchmarking: An Essential Tool For Assessment, Improvement, And
Accountability, San-Fransisco: Jossey-Bass.
Stapenhurst, T., 2009, The Benchmarking Book: A How-To-Guide To Best Practice For
Managers And Practitioners, Oxford, UK: Butterworth-Heinemann.
University of Leicester, 2009, Benchmarking, Cheltenham, Learning Resources.
Watson, G. H., 1993, Strategic Benchmarking: How To Rate Your Company's Performance
Against The World's Best, New York: J. Wiley and Sons.
Watson, G. H., 2007, Strategic Benchmarking Reloaded With Six Sigma: Improve Your
Company's Performance Using Global Best Practice, 2nd Ed., New York: John Wiley and Sons.
Zairi, M., 1996, Effective Benchmarking: Learning from The Best, New York: Springer.