Conditions for Successful Benchmarking
Benchmarking is OBTAINED from the observation of other firms that are identified as the best (or sufficiently good) in the processes of interest.
Benchmarking is AIMED at improving the processes of an organization. It aims to achieve maximum effectiveness in the exercise of learning from the best and to help you to move from where you are to where you want to be.
CONDITIONS to implement it successfully are:
1. An active engagement of the management
2. A clear definition of the objectives pursued
3. A conviction to accept the changes suggested by the study that was undertaken
4. It must be an ongoing effort.
Analyst, Saudi Arabia
Benchmarking Success Factors
How the best results are achieved from benchmarking, making it most beneficial to a company depends largely on many elements such as: size of the company, location, level of business strategy, culture and political environment of the country, etc.
Besides that, in order to make the results comparable, a uniformity of measures must be applied so that results can be appreciated by a company when their performance is compared against the average or the top-performing ones of the benchmarked companies.