Benchmarking

BENCHMARKING

It is the process of comparing one's business process and performance metrics to industries bests and/or best practises from other industries. Process benchmarking includes studying process flows, operating systems, process technologies and the operations of target firms and departments.

Also it can be defined as the way of discovering what is the best performance being achieved – whether in a particular company, by a competitor or by entirely different industry. This information can then be used to identify gaps in an organization’s processes to achieve a competitive advantage.

Three Primary Classifications of Benchmarking:

Although there are many forms of benchmarking, they can be classified into three categories – internal, competitive and strategic.

Internal benchmarking is used when a company already has established and proven best practices and they simply need to share them. Internal benchmarking also may be necessary if comparable industries are not readily available.

Competitive benchmarking is used when a company wants to evaluate its position within its industry. Also, competitive benchmarking is used when a company needs to identify industry leadership performance targets.

Strategic benchmarking is used when identifying and analysing world-class performance. This form of benchmarking is used most when a company needs to go outside of its industry

Comparison of cars whose budget falls between 8 to 10 lakhs on road.

CONCLUSION

In my openion one should always give priority to the safety of the passengers because indian roads are prone to accidents and in that case

• I would suggest Tata Nexon from the above because of the Five star G-NCAP Safety and it has more power (BHP),BS6 Complaint and spacious cabin compared to rivals.
• Over all it has good performance