| We learn from the success of others…benchmarking is the method to study the success of other companies!
Benchmarking, as the text points out, is one of the more popular techniques for improving aSALES There are companies that I use to benchmark in the broadcasting industry. I think my company is doing a lot of the right things, but I know I can learn a lot from other companies in my sector. In some cases I learn from companies that are doing a poorJOB For this assignment, I want you to choose a company that’s a leader in their respective sector. It might be the retail, manufacturing, or service industry. A few examples/sectors: Coffee-Starbuck’s or Tim Horton’s, Manufacturing-Ford or Apple, Retail-Nordstrom’s or Macy’s, Airlines-Southwest or Virgin, Food-Whole Foods, etc. Or it might be your company. In the paper I want you to describe what makes the company the best in their sector. What are their sales? What are their best practices? What are they doing better than everyone else in the sector? What makes them a leader? Why is their management so much better? Why are their products so much better? Why do theyMAKE MORE MONEY As an example…if you’re going to use Starbuck’s as being first in class, go to their website…use sales data, tell me about their culture…tell me what you’ve learned and how you’llCOMPETE Your paper should be no more than three pages (double spaced) plus a cover and reference page. APA format isREQUIRED |
organization. But don’t think it’s limited to just sales. Taking a close look at your competitor and their best practices can improve the overall performance of your company. Benchmarking should be an ongoing measurement and analysis process that compares an organization’s current operating practices with the “best practices” used by world-class organizations. It should be a tool for evaluating current business practices and finding a way to do them better, more quickly, less expensively to better meet customer needs and increase profitability.
