Flashcards in 4. Benchmarking Deck (7):
Benchmark is the recognized or accepted measurement value that established the best performance for a given process.
Types of Benchmarking
-Collaborative (between various organizations to achieve benchmarking results
-Breakthrough (make organizations aware of what's possible and achievable)
Benchmarking Types Summary
-Internal Benchmarking (similar process withing the same company)
-Competitive Benchmarking (recognized and forces organization to take an external perspective)
-Process Benchmarking (compare outside the organization)
- Westcott (2014)
-APQC (2014- TBD)
Dangers of Benchmarking
-Culture, norms, and history
-Exposed to potential breaches of confidentiality
Ultimate measure of success. Breakthrough improvement goals, or meaningful and defensible targets and goals.