Introduction To Benchmarking and Key Steps Involved In It Benchmarking is a business tool, used by the organization to bring improvement in their performances by studying and learning from the best practices and analyzing the processes of the leading organization to be successful. Benchmarking does not mean that an organization has to copy the exact processes and the practices of those top leading organization in the market. It means that those organization who want to achieve the same standard, performance must bring some innovative idea and to adapt it according to the needs of the company. This process can be applied to many different levels and areas, ranging from the public sector of industry to the manufacturing one. It is considered to be a dynamic process which evolves with the experience of the company and applied to different cultural and organizational setting. „Benchmark‟ in other way, means to preserve the same significance and essence in the survey, research and manufacturing processes as that of the top notch companies. In today‟s globalized world of business, this word has been used to denote about an acceptable standard, specification and performance related to a product or service, a company has to offer to the market and to its customers. Thus, organizations all around the world are using benchmarking as a measure of maintaining effective performance of the firm, simultaneously, a good image in the eyes of the customers. By contrasting the processes and practices, an organization can actually get know where and to what extent it lacks in meeting those standards, hence, strategies can be developed in accordance to the areas of improvement, no wonder, somewhere in the near future a particular modification can serve as a competitive advantage to the company. (Damelio, 1995)
Key Steps Based on the results of research, following are some of the main steps that a company must keep in mind while bench marking: Identify what to benchmark.
Select a team which will start the process of benchmarking.
Analyze the internal process of the organization.
Identify companies that would be used as benchmarks.
Contact the companies that have been benchmarked.
Conduct visits to benchmark partner companies.
After analyzing the benchmarking findings, look for any performance gaps and then redesign the benchmarks and finally adopt the benchmarking across the organization (Davis and Oliver, n.d.).
Keeping in view the strict academic schedule of students and their inclination towards social lives, it is not surprising of students to ask for help in writing their academic papers. This is
mainly attributed to the inability of students, to give the required amount of time and effort in writing a good research paper. For long, such students were clueless as to where they would get the much needed help. Luckily for these students, who would ask “Can anyone help write my paper for me for college�, Aonepapers.com has indeed come to their rescue.