Benchmarking

Benchmarking

What is Benchmarking?

Benchmarking is a process of measuring the performance of a company's products, services, or processes against those of another business considered to be the best in the industry, "best in class." The point of benchmarking is to identify internal opportunities for improvement. By studying companies with superior performance, breaking down what makes such superior performance possible, and then comparing those processes to how your business operates, you can implement changes that will yield significant improvements, that might mean tweaking a product's features to more closely match a competitor's offering, or changing the scope of services you offer, or installing a new customer relationship management (CRM) system to enable more personalized communications with customers.

What are the Benefits of Benchmarking?

In addition to helping companies become more efficient and profitable, benchmarking has other benefits, too, such as:

• Improving employee understanding of cost structures and internal processes.
• Encouraging team-building and cooperation in the interests of becoming more competitive.
• Enhancing familiarity with key performance metrics and opportunities for improvement

By Benchmarking, it helps the employees understand how small piece of company’s processes or products can be the key to major success, just as one employee’s contributions can lead to big win.

Types of Benchmarking

• Process benchmarking.
• Financial benchmarking.
• Benchmarking from investor perspective.
• Benchmarking in public sector.
• Performance benchmarking.
• Product benchmarking.
• Strategic benchmarking.
• Functional benchmarking.
• Best - in class benchmarking.
• Operational benchmarking.

Coming to our challenge’s main perspective,

REQUIREMENT

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

SUITABLE CARS

1. Tata Nexon
2. Ford EcoSport
3. Kia Sonet
4. Renault Kiger

OVERVIEW COMPARISION OF THE ABOVE FOUR

TATA NEXON

PROS

• New sharper styling makes the new Nexon look upmarket.
• Five-star G-NCAP safety rating.
• BS6 compliant powertrain.

CONS

• Interior quality could have been better.
• Petrol engine lacks low-end grunt.

FORD ECOSPORT

PROS

• Striking looks especially in the S guise.
• Feature rich cabin with decent Ergonomics.
• Sporty drivability in terms of steering and body control.

CONS

• Narrow cabin lacks of shoulder room on the rear bench.
• Inconsistent cabin plastics and dated instrument console.
• More expensive than its rivals.

KIA SONET

PROS

• Flamboyant styling.
• Feature loaded cabin.
• Loads of powertrain.

CONS

• Slightly stiffer ride quality.
• Second row seat isn’t spacious.
• No diesel-iMT combination

RENAULT KIGER

PROS

• Quirky Design
• Powerful Engine
• Plenty of Equipment inside.

CONS

• Rear shoulder room for three.
• Feel and build Quality.
• High Loading lip.

CONCLUSION

After comparing all the cars, what I would recommend Mr. D.S. Pughazhyendhii is FORD ECOSPORT because of Good driving and safety, beautiful design, good mileage and sporty look and quality build vehicle. The car is far best in the segment to for a city drive as well as on highways as it is diesel-powered vehicle.

The Ford EcoSport scored an overall rating of 4-star in the frontal crash tests and 5-star in the side- impact crash tests. But the compact SUV scored only 3-star in the resistance to rollover test. The 3-star rating is pretty low as most of the cars hardly get a rating of less than 4-star from NHTSA.

Ford EcoSport offers

• A good ride quality
• A strong build car
• Probably the best petrol and diesel engine
• The good touch screen system
• Space management is not the best
• Fun fact ford cars are best when it comes to driving in rain or where there is standing water.
• The car offers a sunroof.

I would highly recommend Ford EcoSport, because he has a child with him to carry as well as it has scored 4 out 5 in ASEAN NCAP Crash test for all adult occupant protection.