1. Benchmarking
Over two thirds of larger organizations in the US currently utilize a benchmarking approach, with 67.9% using either a formal or informal approach. ... For instance a company with a strong "management by objectives" attitude would be unable to fully utilize benchmarking due to its focus on objectives as opposed to processes. ... Once one knows the current capability of their firm, the insights gained from observing the world's frontrunners can be translated directly into improvements in efficiency and productivity. ... To begin this planning stage, a cross-functional team must be assem...
- Word Count: 3050
- Approx Pages: 12
- Has Bibliography