Case :

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, five-year-old boy, his father, and his mother. He visits his native place Madurai which is 500kms away from Bangalore once in 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 with options so that he will buy a good car for his family.

Note: Pughazhyendhii is fond of big cars

Benchmarks :

Benchmarks are set with respect to critical areas of strategic and operational significance that influence an organization’s performance. These could be well-known problem areas in an organization that could be clearly defined or activities/processes where improvements result in maximum benefits . Benchmarking may be carried out with respect to activities and processes such as; strategic planning, decision processes, accounting systems, internalcommunication systems, manufacturing processes, reward systems, strategic HRM, employee training, distribution logistics, customer service, etc. For example, Xerox Corporation routinely buys copiers made by other firms and takes them apart to see how they work.

Types of Benchmarks

Advantages of benchmarking :

1. Minimizes the costs and saves time to adapt the best practices of other companies rather than re-invent them in-house.

2. Helps in implementation of upcoming changes and sophisticated technological improvements, arising out of change across industries.

3. Bridges the competitive gaps in one’s own concern from other competing firms.

4. Initiates the formulation of strategic goals and objectives based on the external models for improving activities and processes in the organization.

5. Stimulates an organization to overcome its inertia and think differently in the context of the brand-new approaches/models implemented elsewhere.

6. Facilitates organizational learning and

7. Drags improvement in critical areas within the organization by adapting best practices and processes

Case study

Volkswagen Polo Comfortline 1.0L TSI

Specifications & Features

Price - ₹ 8.56 Lakh

Engine - 999 cc, 3 Cylinders Inline, 4 Valves/Cylinder, DOHC

Engine Type - 1.0L TSI

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