{"id":344,"date":"2019-08-21T14:26:45","date_gmt":"2019-08-21T14:26:45","guid":{"rendered":"https:\/\/www.sivioinstitute.org\/labs\/sec\/?page_id=344"},"modified":"2019-08-27T12:17:57","modified_gmt":"2019-08-27T12:17:57","slug":"benchmarking-strategies","status":"publish","type":"page","link":"https:\/\/www.sivioinstitute.org\/labs\/sec\/dynamics-of-growth\/benchmarking-strategies\/","title":{"rendered":"Benchmarking Strategies"},"content":{"rendered":"\n\tYou are here:\nHome<\/a><\/span><\/span>\n\n\t

Benchmarking Strategies<\/h1>\n

Enterprises operate in an environment where learning from peers, partners and competitors can be cornerstone for success using tools such as benchmarking. Benchmarking involves the process of comparing one’s business processes and performance metrics to industry bests or best practices from other companies.<\/p>\n\t

Benchmarking in Action<\/h2>\n \n

Planning<\/h3>\n \n 1.  Identify what is to be benchmarked
\n \t2.  Identify comparative companies
\n \t3.  Determine data collection method and collect data
\n \n

Anaylsis<\/h3>\n \n 4.  Determine current performance \u2018gap\u2019
\n \t5.  Project future performance levels
\n \n \n \n

Intergration<\/h3>\n \n 6.  Communicate benchmark findings and gain acceptance
\n \t7.  Establish functional goals
\n \n

Action<\/h3>\n \n 8.  Develop action plans
\n \t9.  Implement specific action and monitor progress
\n \t10.  Recalibrate benchmarks
\n \n \n \n

Maturity<\/h3>\n \n 11.  Leadership Position Attained
\n \t12.  Best Practices Fully Integrated into Process
\n","protected":false},"excerpt":{"rendered":"

Benchmarking Strategies Enterprises operate in an environment where learning from peers, partners and competitors can be cornerstone for success using tools such as benchmarking. Benchmarking involves the process of comparing one’s business processes and performance metrics to industry bests or best practices from other companies. Benchmarking in Action Planning 1.  Identify what is to be … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":326,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-344","page","type-page","status-publish"],"yoast_head":"\nBenchmarking Strategies - SIVIO Entrepreneurship Lab<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sivioinstitute.org\/labs\/sec\/dynamics-of-growth\/benchmarking-strategies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benchmarking Strategies - SIVIO Entrepreneurship Lab\" \/>\n<meta property=\"og:description\" content=\"Benchmarking Strategies Enterprises operate in an environment where learning from peers, partners and competitors can be cornerstone for success using tools such as benchmarking. 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