Best Practices or Next Practices?
C.K. Prahalad says best practices take companies only so far. At best they allow firms to catch up with their competitors, but it will not make them market leaders. Prahalad, who is obviously not the biggest fan of benchmarking, advises to look for next practices instead, big problems / breakthrough opportunities. To find next practices, he recommends the following 6 questions:
1. Is the problem widely recognized?
2. Does it affect other industries?
3. Are radical innovations needed?
4. Can a next practice impact the economics of the industry?
5. Can a next practice be a source of competitive advantage?
6. Can a next practice create a big opportunity for our firm?
Source HBR, April 2010.
The article made me wonder: when is benchmarking better, and when are you better off looking for next practices?
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Aleyda, Cuba
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Concerning the Benchmarking
Benchmarking is a very potent tool for the improvement of processes, although in fact the competitor... Sign up
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amine salah, Morocco
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Benchmarking must not be Copying
Benchmarking may be very useful when it isn't a simple copy of other's experience. When it's so, it ... Sign up
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A.S. Ismail, Malaysia
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Benchmarking is Learning Openly
Benchmarking is about learning openly from some else best practices with some improvements to suit y... Sign up
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Catherine Chong, Malaysia
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Benchmarking is a Basis for Improvement
Benchmarking is needed to ascertain where we are positioned in comparison with our competitors. With... Sign up
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Sia Boon Sen aka David Sia, Singapore
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Playing to the Tune of the Industry or in the Background
Benchmarking is essential. Just like any other metrics, it should only be held as a guide at best. D... Sign up
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Pius E. Africa, Nigeria
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Benchmarking Does not Limit Firms
I do agree with Hannah Davis' thought process. However, I have some reservation with C.K. Prahalad's... Sign up
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Patricia Dlamini, South Africa
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Benchmarking and Next Practices
While benchmarking is critical to an organizations as it repositions or claims a position within a p... Sign up
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John, Australia
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Benchmarking is Basically Comparative
Benchmarking is basically a comparative process. If we find that we are not performing as well as ot... Sign up
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Tleli Makhetha, South Africa
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Benchmarking, Lagging and Leading
The benchmark is an indication of current best practice. Lagging organisations can learn how far the... Sign up
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Hassaan Khalid, Pakistan
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Mix Benchmarking with Next Practices
I guess its a mixture of both.
You benchmark to maintain a certain standard.
But consumers want va... Sign up
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