Benchmarking is a strategy tool used to compare the performance of the business processes and products with the best performances of other companies inside and outside the industry. Benchmarking is the search for industry best practices that lead to superior performance.
Benchmarking is a strategy tool used to compare the performance of the business processes and products with the best performances of other companies inside and outside the industry. Benchmarking is the search for industry best practices that lead to superior performance.
This paper introduces the Total Benchmarking Model that effectively integrates four types of benchmarking activities: benchmarking of competitive advantages,
With additional business information obtained by benchmarking, a company can improve the quality of its decision-making in strategic planning. It can also improve the quality of its decision-making in strategic controlling, leading to the more successful achievement of the set objectives.
Innovation management measurement helps companies in understanding the current status of their innovation capabilities and practices.
Throughout this control areas of strength and weakness are identified and the organizations get a clue where they have to concentrate on to maximize the future success of their innovation procedures.
Furthermore, the measurement of innovation assists firms in fostering an innovation culture within the organization and in spreading the awareness of the importance of innovation.
It also discloses the restrictions for creativity and opportunity for innovation.
Because of all these arguments it is very important to measure the degree of innovation in the company, also in comparison with other companies.
On the other hand, firms have to be careful not to misapply the wrong metrics, because they could threaten innovation and influence thinking in the wrong way.
Innovation management measurement helps companies in understanding the current status of their innovation capabilities and practices.
Throughout this control areas of strength and weakness are identified and the organizations get a clue where they have to concentrate on to maximize the future success of their innovation procedures.
Furthermore, the measurement of innovation assists firms in fostering an innovation culture within the organization and in spreading the awareness of the importance of innovation.
It also discloses the restrictions for creativity and opportunity for innovation.
Because of all these arguments it is very important to measure the degree of innovation in the company, also in comparison with other companies.
On the other hand, firms have to be careful not to misapply the wrong metrics, because they could threaten innovation and influence thinking in the wrong way.