The core principles relating to the factors being considered for benchmarking are: The selection of benchmarking factors should be fit for purpose, evidence-based and robust, conforming to recognised best practice in the production of statistical information..
The definition of benchmarking in business: Business benchmarking is the process of comparing industry and general business best practices against your own to identify performance gaps and achieve competitive advantages..
The core principles relating to the factors being considered for benchmarking are: The selection of benchmarking factors should be fit for purpose, evidence-based and robust, conforming to recognised best practice in the production of statistical information..
The core principles relating to the factors being considered for benchmarking are: The selection of benchmarking factors should be fit for purpose, evidence-based and robust, conforming to recognised best practice in the production of statistical information..
The definition of benchmarking in business: Business benchmarking is the process of comparing industry and general business best practices against your own to identify performance gaps and achieve competitive advantages..
Benchmarking can help you identify areas of opportunity within your business and your industry.
For example, you might notice that your competitors are falling behind in a certain area, and you might be able to exploit that for your benefit.
You might also pinpoint items within your own company that you can improve..
1.
0) Legality
Don't discuss costs or prices with competitors. 1.
2) Do not extend benchmarking study findings to another company without first ensuring that the data is appropriately blinded and anonymous so that the participants' identities are protected..
Benchmarking is important because the process is focused on using evidence and data to illuminate areas for continuous growth and improvement.
It can also help you see that as a business scales, needs will evolve as well..
Communicate fully and early in the relationship to clarify expectations, avoid misunderstanding, and establish mutual interest in the Benchmarking exchange.
Be honest, complete and timely with information submitted.
Treat Benchmarking findings as confidential to the individuals and organisations involved.
Rather than promoting a culture of trust, the compliance-based model suggests that the organization expects employees to fail and diminishes morale.
Ultimately, a successful organization that upholds the value of integrity will combine both of these approaches in establishing its code of conduct.
This internationally accepted standard provides detailed guidelines for organizations in conducting their benchmarking activities.
Adherence to APQC's code of conduct contributes to efficient, effective, and ethical benchmarking.
The Board of Directors of Chase Corporation has adopted this “Code of Business Conduct and Ethical Standards” (the Code) for Directors of Chase Corporation to foster a culture of integrity, honesty, and accountability.
This Code is intended to provide guidance to assist Directors in recognizing and dealing with ethical issues.
