Tuesday, February 16, 2010

What Benchmarking Can Do For You

Do you know how your organization stacks up against its industry-wide competition? Are you aware of how your performance measures up to the goals your organization has set for itself? Are you interested in finding out, but don’t know where to begin? You need an expert on benchmarking, and Canner Street Consulting can help.

We'll start by using the principles set forth in the book Benchmarking for Competitive Advantage, which was edited by Canner Street Consulting principal Bert Nelson.

Benchmarking is the process of systematically identifying, analyzing, and adapting an industry’s best practices to improve an organization’s performance. Benchmarking helps an organization to:

  • Locate its position in the marketplace
  • Identify methods to increase its efficiency
  • Improve learning, bring in new ideas, and enhance communications
  • Hone capabilities that give it a strategic advantage over the competition.

Benchmarking is a proven and cost-effective way to set standards and measure adherence to them. Although benchmarking is widely discussed, few companies are actually doing it correctly. The Canner Street team, which has led dozens of benchmarking projects, can to work with your organization to plan and execute a benchmarking study, and apply the results.

If you are interested in learning more about benchmarking, contact Canner Street Consulting or Opera Advisors.

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