Benchmarking

AIM :Mr. D.S. Pughazhyendhii is a married man who lives in Bangalore

which is a highly crowded city. His Family comprises five members including

his wife, a five-year-old boy, his father, and his mother. He visits his native

place Madurai which is 500kms away from Bangalore once a month. Also,

he will be using his car to commute to his office. His budget falls between

8 to 10 lakhs on road. Please suggest to him options so that he will buy a

good car to his family

BENCHMARKING :

Benchmarking is a process where you measure your company's success

against other similar companies to discover if there is a gap in prformance

that can be closed by improving your performance .Studying other companies

can hightlight what it takes to enhance your company's efficiency and became

a top position in your company.

STEPS TO FOLLOW BENCHMARKING :

Choose a product, service, or internal department to benchmark

Determine which best-in-class companies you should benchmark against – which organizations

you’ll compare your business to

Gather information on their internal performance, or metrics

Compare the data from both organizations to identify gaps in your company’s performance

Adopt the processes and policies in place within the best-in-class performers

BENIFITS OF BENCHMARKING :

Gain an independent perpective about how well you performed compare

to others companies .

Note down into performance gaps to find to improve.

Develop a standardized set of processes.

Set a performance expectations.

Monitor company performance and change to required.

COMPARISON BETWEEN CARS :

KIA SONET VS TATA NEXON VS NISSAN MAGNITE VS HYDAI VENUE :

Price : 9,83,617 RS.

ENGINE AND PERFORMANCE :

Price : 9,93,739 RS.

Price : 9,10,602 RS.