Benchmarking
Mayur Vispute
Bench-Marking Report
Define :- 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. The point of benchmarking is to identify internal opportunities for improvement.
What is Benchmarking -
Benchmarking is a process where we measure our company’s success against other similar companies to discover if there is a gap in performance that can be closed by improving our performance. Studying other companies can highlight what it takes to enhance our company’s efficiency and become a bigger player in our industry.
Benifits of Benchmarking -
By identifying areas we wish to improve on in our business and benchmarking our existing performance against competitors, our business can strive to enhance our execution tenfold. Using benchmarking this way has allowed businesses to gain strategic advantages over competitors and grow industry averages.
Benchmarking involves looking at current trends in data and projecting future trends depending on what we aim to achieve. In order to know we have been successful, benchmarking needs to be a continuous process. Monitoring performance is an inherent characteristic of it.
- Continuous Improvement
As well as monitor performance, continuous improvement is an essential attribute of benchmarking. This is because the aim of benchmarking is to improve a certain element of a business. This improvement should not merely be something that improves once and is forgotten, but something that improves over time and is continuous.
- Planning and Goal Setting
Once benchmarking has been carried out, goals and performance metrics are set in order to improve performance. These goals are new, more competitive targets for a company but they must be achievable. If goals are unrealistic to achieve teams become demotivated and goals are destined to remain unfulfilled.
- Encourage Ownership
When companies look at their processes and metrics they need to ask hard questions to get all the answers they need. This includes talking to everyone in the business and understanding their roles. By asking these questions and gaining a better understanding of everyone’s role, ownership for processes and performance is encouraged. This means that employees will take pride in their job and the work they do. This pride leads to better performance and higher-quality end results.
- Understand Our Companies Advantages
Benchmarking identifies where our company is right now compared to where we want it to go. If we are looking at improving any process in our business, benchmarking is a way of looking at how we can excel and become more successful through outlining the steps needed to achieve our goal.
Now we compair all these 4 cars , Price of all four car between 8 to 10 lac and also each of them having same capacity of 5 persons.
1) Toyota Urban Cruiser
2) Mahindra XUV 300
3) Maruti Brezza
4) Tata Nexon
1. Toyota Urban Cruiser -
4) Tata Nexon -
Now we compair saftey Benchmarking -
- Mahindra XUV300 was assessed by the safety program and became the second car after the Tata Nexon to receive the coveted 5-star for safety, but the combined score was higher than the Nexon and it also received a solid 4-star for Child Protection a first for an Indian car.
- Urban Cruiser has scored 3 stars in child protection against the 2 stars scored by the Brezza.
- The Toyota Urban Cruiser bagged a 4-Star rating for adult occupant protection and 3-Stars for child occupant protection in the Global NCAP crash test. The Urban Cruiser scored 13.52 points out of a total of 17 points for adult occupant safety.
- Mahindra XUV300 scores a solid 5 star rating in Global NCAP crash test inAfrica. It gets a 5 star rating for adult occupants and 4 stars for child occupants. The bodyshell integrity has been rated stable.
- Global NCAP had crash-tested the current generation Vitara Brezza and gave it a 4-star adult safety rating and a 2-star rating for child occupant protection.
- Tata Nexon was the first made in India car to achieve a full 5-star safety rating in the Global NCAP crash test back. The Tata Nexon achieved a full 5-star rating for adult occupant protection and a 3-star rating for child occupant protection in the Global NCAP crash test.
Conclusion -
From above safety benchmarking we can easily able to define , Mahindra XUV 300 is very much safer than others. It is Sport utility vehicle hence it is very good for long run also. All Reuirements of Mr. D.S. Pughazhyendhii are fullfilled with this car for eg., Mahindra XUV300 is 5 seater car, it is very good for long run also and daily routine also, it is type of big car and last it is in budget (Basic RS. 8.41 lac)of Mr. D.S. Pughazhyendhii.