In cooperative research, two organizations partner and conduct an in-depth study, with the aim of exchanging experiences and enriching their processes and results.
A hypothetical example would be a benchmark analysis between Tesla and Volkswagen:
The former adapted to the modern market and mastered the delivery of electric and customized vehicles. The latter has a global and extremely resilient supply chain , as well as a solid customer base.
Both organizations could study each other's cases and strategies, extracting high-value intelligence for their processes.
3. Functional benchmarking
The functional type aims to identify a company's best practices, processes and strategies and then implement them within its structure.
There are several different ways to perform functional benchmarking.
A common approach is to identify organizations portugal whatsapp data that are leaders in the field and then visit them to observe their processes and learn from them.
Another way is to conduct a survey in several different organizations to identify those with the best practices.
Then, you can implement them within the organization.
This usually involves making changes to processes and procedures and often also requires staff training.
When successful, it can lead to significant improvements in organizational performance.
4. Internal benchmarking
The internal type aims to analyze the performance of business sectors. The objective is to compare performance based on indicators such as productivity, ROI, expenses, among others.
Discover the pillars that support benchmarking
Regardless of the type chosen, baseline research can only bring benefits to the organization if it is conducted in a structured and methodical manner.
Establish the objectives of the analysis, as well as the criteria that will be used to measure performance.
In addition, it is crucial to choose the references well to ensure that the results are relevant enough to contribute positively to the organization.
Guiding principles include:
Confidentiality : The idea is not to undermine competitors, but to learn from their results. Therefore, keeping data confidential is essential.
Legality : the data obtained must be collected in a lawful and transparent manner, without the use of manipulation methods and with the aim of seeking mutual benefit.
Data exchange : When requesting information, a common practice is to offer your data (of equivalent value) in exchange, which encourages collaboration in the market.
What are the stages of benchmarking implementation?
Implementing benchmarking in your business can be a great way to improve performance and compare your organization to others in your industry.
However, this is not a standardized process and there are a few different stages you will need to go through for it to be successful. How about taking a look at it?
1st stage
The first step is to identify the areas of your business that you want to evaluate.
This includes mapping out the key performance indicators you want to measure and the competitors you want to compare yourself against.
2nd stage
The second stage is data collection, that is, the entire process of searching for the information and metrics identified, as well as any other relevant data that will be necessary for comparisons.
3rd stage
The third step is data analysis.
This is where you identify the gaps between your operation's performance and that of your competitors.
4th stage
The fourth step is to develop action plans.
It involves developing plans to fill the gaps you've identified and improve your overall performance.
By following these steps, you can ensure that this is a successful process for your business.
How to compare?
So how do you conduct a successful benchmark study that will deliver great insights to your operation? First, it’s important to understand that this is a process that can be complex and time-consuming.