1. Introduction to Business Lecture 39
MGT211
Introduction to Business
Lecture 39

2. Benchmarking Comparison with others. Comparison of: Products Processes
Instruments
Culture of organizations.

3. Zero Defect Level
A stage where there is no defect in the product, process and organization.

4. Considerations in Benchmarking
Identification of processes to be benchmarked.
Sale forecasting
Pricing
Distributions
To maintain financial record.
Technology

5. Considerations in Benchmarking
Key variables in a process
Product
Shape of product
Color
Size
Weight
Angle
Performance

6. Considerations in Benchmarking
Key variables in a process
Selling and Marketing
Cost
Variety of heads in costing
Productivity
Mixture of ingredients
Timeliness
Differentiation of products
Purchasing

7. Considerations in Benchmarking
Identification of the best plan.
Measurement of own performance.
Action to bridge the gap.

8. Organization should go for benchmarking when there is more competition in the market.
Benchmarking can be done for two entirely different products or organizations.
Organization should benchmark its processes or products with the best organization in that class.
Benchmarking can be used for personality development.