Benchmarking
BENCHMARKING:
Benchmarking is the competitive edge that allows organizations to adapt, grow, and thrive through change. It is the process of measuring key business metrics and practices and comparing them within business areas or against a competitor, industry peers, or other companies around the world to understand how and where the organization needs to change in order to improve performance which can be either incremental (continuous) improvements or dramatic (business process re-engineering) improvements. That might mean tweaking a product’s features to more closely match a competitor’s offering, changing the scope of services you offer, or installing a new customer relationship management (CRM) system to enable more personalized communications with customers. There are two basic kinds of improvement opportunities: continuous and dramatic. Continuous improvement is incremental, involving only small adjustments to reap sizeable advances. Dramatic improvement can only come about through reengineering the whole internal work process. There are four main types of benchmarking: internal, external, performance, and practice.
CLIENT CRITERIA:
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 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 options so that he will buy a good car for his family.
Note: Pughazhyendhii is fond of big cars.
Here I have chosen the Top 4 Cars under the Following basic Criteria,
- Under 10 Lakhs
- SUV Models
- 5 Seater
MY LIST OF CARS:
1. TATA PUNCH - Creative AMT
2. HYUNDAI VENUE - S Plus
Exterior:
3. TATA NEXON - XMA AMT
4. KIA SONET - 1.2 HTK+
COMPARISONS:
As the above picture shows, TATA is performing better and has the highest safety factors too.
RESULT:
As per all the Benchmarking, I suggest TATA Punch - Creative AMT for Mr. D.S. Pughazhyendhii for his Upcoming new Car.