Benchmarking is one of the known Management tools alongside the Balance Scorecard, Change Management, Customer Relationship Management and Digital Transformation critical for organization’s today both public and private in ensuring they remain competitive. Benchmarking improves organizations performance by identifying and applying best demonstrated practices to its operations. This allows Managers to compare the performance of their products or processes externally with those of competitors and best-in-class companies.
The objective of Benchmarking is to find examples of superior performance and to understand the processes and practices driving that performance. A 2003 Pricewaterhouse Coopers Trendsetter Barometer survey found that companies that benchmark achieve 69 percent faster growth and 45 percent greater productivity than those that don’t. Benchmarking is a powerful management tool because it overcomes paradigm blindness.
Benchmarking opens firms up to thinking about new methods, ideas and tools to improve their effectiveness. It helps break down resistance to change by demonstrating methods of solving problems other than the one currently employed and demonstrating that these methods work because they are being used by other forms successfully. There’s an old managerial adage that says “you can’t manage what you don’t measure”.
AICB conducts a number of Benchmarking programs across the Country, In Africa and across the Globe. So we far we have conducted a number of Benchmarking projects in various areas for County Governments to Singapore, Dubai, Denmark, Turkey, Rwanda China and Taiwan. Our model involves:
• Identifying organizations process gap
• Selecting a product, service or process to benchmark
• Identifying the key performance metrics
• Choosing companies/Countries, or internal areas to benchmark
• Collecting data on performance and practices
• Analysing the data and identify opportunities for improvement
• Adapting and implementing the best practices, setting reasonable goals and ensuring company wide acceptance