Best Practices or Next Practices?


 
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Best Practices or Next Practices?
Hannah Davis
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?
 

 
Concerning the Benchmarking
Aleyda
Benchmarking is a very potent tool for the improvement of processes, although in fact the competitor or leader may not show his best practices?...
 

 
Benchmarking on Best Practices
Zumstein Anton, Manager, Switzerland, Member
Benchmarking in general is certainly a valuable tool to find out where you are positioned right now.
With respect to best practices I agree with ...
 

 
Benchmarking must not be Copying
amine salah, formateur, Morocco, Member
Benchmarking may be very useful when it isn't a simple copy of other's experience. When it's so, it limits creativity. Improvements in the same activi...
 

 
Benchmarking Gingers you Towards Improvement
CHINELO NWOKORIE, Management Consultant, Nigeria, Member
Benchmarking actually is good practice. Why? Because it keeps gingering you towards improvement and that means you do not stop because competition wil...
 

 
Benchmarking is Learning Openly
A.S. Ismail, Consultant, Malaysia, Member
Benchmarking is about learning openly from some else best practices with some improvements to suit your needs....
 

 
Benchmarking is a Basis for Improvement
Catherine Chong, Director, Malaysia, Member
Benchmarking is needed to ascertain where we are positioned in comparison with our competitors. With the knowledge of our positioning, we should th...
 

 
Use Benchmarking as a Stepping Stone for Next Practice
ANNAJULIA HUNGWE, CUSTOMER SERVICES MGR, Zimbabwe, Member
To be beneficial, benchmarking should be used as a 'stepping stone' where after, as Hannah Davis says, you aim towards ' the next practice' - t...
 

 
Fit Benchmarking into Context
zakari bukari, Student (University), Denmark, Member
Benchmarking is a good strategy for improving performance, however sometimes it needs modification to fit a particular social, cultural and economi...
 

 
Benchmarking must Combine External with Internal Know-How
Firstep Eapl Astimen, Manager, Indonesia, Member
Benchmarking is knowledge acquisition from an external tacit knowledge resource that should be combined with an internal knowledge initiative.<...
 

 
Confirming Good or Bad Direction
Jan Uriga, HR Consultant, Slovakia, Member
Benchmarking is a great tool for traditional, conservative and no risk taking companies to confirm that they are safe or it could be an alarm c...
 

 
Best Practices cannot become Encyclopedia in that Discipline
D P BABU, Strategy Consultant, India, Member
Best practices are not common tools for operation to each organization. Since strategies link organizations with their environment, so also best pract...
 

 
Playing to the Tune of the Industry or in the Background
Sia Boon Sen aka David Sia
Benchmarking is essential. Just like any other metrics, it should only be held as a guide at best. Do not be happy with our sustaining or surpassin...
 

 
Benchmarking Does not Limit Firms
Pius E. Africa, Management Consultant, Nigeria, Member
I do agree with Hannah Davis' thought process. However, I have some reservation with C.K. Prahalad's view that benchmarking "at best allow firms to ca...
 

 
Benchmarking Should not Limit Firms
Daniels, MBA Student, United Kingdom, Member
The key rule is to play the game on your terms not your competitors' terms. So benchmarking is nothing more than a marker, the problem is too many ...
 

 
Avoid Herding
Krishnan Jagadheeswaran, Turnaround Manager, India, Member
Benchmarking is good as long as it still differentiates your product from that of your competition. Benchmarking of best practices within an industry ...
 

 
Benchmarking is for Followers
Joy Tio, Student (Other), Philippines, Member
If you are just content with being the follower in the industry, benchmarking will suffice. Otherwise, break out of the box and look for the ne...
 

 
When and How of Benchmarking
Jagdish B Acharya, Consultant, India, Premium Member
Whenever improvements happen, it is because of some process changes, measurements, comparisons and controls. Benchmarking tells about "best" sharab...
 

 
Best Practices or Next Practices?
Madan Gopal Agarwal, Business Consultant, India, Member
It is like 'Who came first: Chicken or Egg?' Best practices are those 'known and proven' practices successfully implemented by companies. Next practic...
 

 
No Such Thing as a Best Practice
venkataramanan, Financial Consultant, United States, Member
In the current ever changing world there is no best practice. It is only the next improved practice. Life is evolutionary. Better and better pr...
 

 
Benchmarking with Other Industries
Vivek Hattangadi, Management Consultant, India, Member
Remember benchmarking need not be in the same industry. For instance, a pharmaceutical company may benchmark a fmcg company for improving its d...
 

 
Best Practices or Next Practices
Wilf Marshall, CxO / Board, United Kingdom, Member
By definition best practice can only make an organization as good as anyone else. If that is all that is required then it is OK to stay in touch and a...
 

 
Benchmarking of Best Practices
elvira v. chua, Teacher, Philippines, Member
Benchmarking is necessary especially if research results are not enough for us to go for a decision; or if we have already made a decision but there i...
 

 
No More Benchmarking for Global Banks on Basel II
Trynos Chimusimbe, Corporate Financier, Botswana, Member
I wonder if Basel II can still be regarded as the basis for best practice for banks after the crisis in which some bank executives had a hand i...
 

 
Best Practice as a Tool
Vinutha Ajay, Student (MBA), United Arab Emirates, Member
Best practices help in situations when an organization has reached a point wherein it needs to know what to do next without having to spend resources ...
 

 
Benchmarking and Next Practices
Patricia Dlamini, CEO, South Africa, Member
While benchmarking is critical to an organizations as it repositions or claims a position within a particular industry/market; "next practice" are ...
 

 
Benchmarking is Basically Comparative
John
Benchmarking is basically a comparative process. If we find that we are not performing as well as others the next step is to determine what and...
 

 
Best Practices Vs. Next Practices
Rebecca Roe, United States, Member
Best practices come about after research and development have taken place. Usually at places where there is money for research. Many companies that...
 

 
Benchmarking, Lagging and Leading
Tleli Makhetha, Business Coach, South Africa, Member
The benchmark is an indication of current best practice. Lagging organisations can learn how far they are from matching industry performance an...
 

 
Continuous Benchmarking helps to Avoid Lagging Behind
E Saruchera, Finance & Admin Manager, Malawi, Member
Benchmarking is a useful tool that could be utilised by organisations to improve on their process flows, quality of product and service delivery. It i...
 

 
Mix Benchmarking with Next Practices
Hassaan Khalid
I guess its a mixture of both.
You benchmark to maintain a certain standard.
But consumers want value which comes when your product i...
 

 
Best or Next Practice
Tonnis van Dam, Business Consultant, Netherlands, SIG Leader
Research has shown that organisations that benchmark themselves have higher performance growth that those who don't. So benchmarking is beneficial. Bu...
 

 
 


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