Benchmarking is comparing oneself with the standards of the best in a particular field though the comparison need not be with a compet¬itor or even with an organization in the same line of business.
Today most organizations operate in a business climate in which uncertainty, risk and complexity in the external environment are becoming fundamental facts of life. Pressures of international competition and market globalization are such that organizations intending to become corporate leaders should aim to be the best in class in the key areas that sustain competitive advantage.
State bank is concentrating on product and service development and on consumer and market research. This requires the ability to focus externally, in order to compare the firm’s strengths and weaknesses in meeting customer’s expectations relative to the best performers. It also requires targeting in weak areas within the organization for specific improvement activities. Benchmarking enables the organization to enhance its competitive advantage by learning from practice of others internally and externally, at strategic, operational or business management level.
STATE BANK IS ONE OF THE TOPPEST BANK IN INDIA IN THE ASPECT OF CUSTOMER, SERVICES, PROFIT AND BUSINESS. THIS BANK IS HAVING A TOTAL FULL FLESH NETWORK AND CONNECTION TO OPERATE. STATE BANK HAS REACH THE MOUNTAIN PEAK. STATE BANK IS ITSELF A BENCHMARK FOR THE NEW ENTRANT AND OTHER BANK. MOST OF THE METHOD OF STATE BANK ARE FOLLOWED BY SMALL AND DEVELOPING BANKS.
AN EFFECTIVE BENCHMARKING PROCESS HAS THE FOLLOWING SIX STEPS.
Determine the key performance areas to be benchmarked. They may include product and services, customers, business processes in all departments and the organization, business culture and the caliber and training of employees.
Identify the most relevant competitors and best-in-class compa¬nies.
Set the key standards and variables to measure
Measure regularly and objectively
Develop an action plan to gain or maintain superiority.
Specify programmer and actions to close the gap, implement and monitor ongoing performance.
In the service industry environment critical business processes are similar and capable of being benchmarked in the same way as in manufacturing environments. Key operational issues which have been identified in service are: productivity improvement, standardization versus customization, batch
Today most organizations operate in a business climate in which uncertainty, risk and complexity in the external environment are becoming fundamental facts of life. Pressures of international competition and market globalization are such that organizations intending to become corporate leaders should aim to be the best in class in the key areas that sustain competitive advantage.
State bank is concentrating on product and service development and on consumer and market research. This requires the ability to focus externally, in order to compare the firm’s strengths and weaknesses in meeting customer’s expectations relative to the best performers. It also requires targeting in weak areas within the organization for specific improvement activities. Benchmarking enables the organization to enhance its competitive advantage by learning from practice of others internally and externally, at strategic, operational or business management level.
STATE BANK IS ONE OF THE TOPPEST BANK IN INDIA IN THE ASPECT OF CUSTOMER, SERVICES, PROFIT AND BUSINESS. THIS BANK IS HAVING A TOTAL FULL FLESH NETWORK AND CONNECTION TO OPERATE. STATE BANK HAS REACH THE MOUNTAIN PEAK. STATE BANK IS ITSELF A BENCHMARK FOR THE NEW ENTRANT AND OTHER BANK. MOST OF THE METHOD OF STATE BANK ARE FOLLOWED BY SMALL AND DEVELOPING BANKS.
AN EFFECTIVE BENCHMARKING PROCESS HAS THE FOLLOWING SIX STEPS.
Determine the key performance areas to be benchmarked. They may include product and services, customers, business processes in all departments and the organization, business culture and the caliber and training of employees.
Identify the most relevant competitors and best-in-class compa¬nies.
Set the key standards and variables to measure
Measure regularly and objectively
Develop an action plan to gain or maintain superiority.
Specify programmer and actions to close the gap, implement and monitor ongoing performance.
In the service industry environment critical business processes are similar and capable of being benchmarked in the same way as in manufacturing environments. Key operational issues which have been identified in service are: productivity improvement, standardization versus customization, batch