Benchmarking

AIM:

• To prepare a report explaining what is benchmarking,compare at least 4vehicles and provide a proper conclusion for the report,suggesting a suitable vehicle among the comparison made.

BENCHMARKING:

• It is the process of comparing one's business and performance metrics to industries bests and/or best practises from other industries.
• Process benchmarking includes studying process flows,operating systems,prosess 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 achived-whether in a particular company,by a ccompetitor or by entirely differnt industry.
• This information can then be used to identify gaps in an organzation's processes to achieve a competitive advantage.
• Three primary classifications of benchmarking.They are internal,competitive and strategic.

INTERNAL BENCHMARKING:

• It 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:

• It 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:

• It 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

CONCLUSION:

• If he depends on mileage efficiency,it would be better to move with kia sonet as it has top notch interior finish and quality.
• If he goes with the industrial safety standards,then tata altroz will be the best option as it has 5star NCAP rating.
• Finally if he is keen on warranty is best option kia sonet
• In my opinion,for 4 adults and 1 child with NCAP safety rating and high mileage efficiency and spacious cabin and leg room KIA SONET will be my first priority to suggest.