Shweta Sharma 10800321063 A 5 Electronics and Communication Engineering 3 Subject Name Computer Architecture EC502C

NAME – Shweta Sharma
UNIVERSITY ROLL NO. – 10800321063

SECTION –A
SEM – 5TH
DEPT – Electronics and Communication
Engineering
YEAR – 3RD
SUBJECT NAME – COMPUTER ARCHITECTURE
SUBJECT CODE – EC502C
PERFORMANCE
BENCHMARKING
What is performance benchmarking?
▰ Performance benchmarking is the process of measuring and analyzing an
organization’s performance of products, services, operations, and other
business processes against other companies, competitors, or industry
leaders. It helps businesses identify and understand areas for
improvement.
▰ This process helps companies benchmark and measure several metrics
such as time-to-market, cost-per-unit, net promoter score (NPS), and
customer retention. Performance benchmarking provides insights into
how other brands compare to one, even if their audience or industry
differs.
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Many businesses use corporate performance management
(CPM) software to monitor their business activities’
performance. It helps them track key performance indicators
(KPIs) and strategize their operations to achieve business
objectives. Performance benchmarking allows them to see
how their business pans out against competitors or best-in-
class industry standards.
4
Types of performance benchmarking
Companies use multiple forms of benchmarking to stay
competitive.
Strategic benchmarking
Strategic benchmarking involves comparing performance
with the top performer. This analysis isn’t limited to
competitors and specific industries but any business
that has mastered a particular process or operation.
Strategic benchmarking doesn’t suggest quick changes but
helps a business improve its strategies. It encourages
businesses to consider core competencies and new
product development for long-term improvement.
▰ Competitive benchmarking
▰ Competitive benchmarking helps businesses identify industry
performance standards by evaluating competitors' processes and
operations. It compares products, services, and methods that
allow leaders to understand where they are in the current market
and what they need to improve.
▰ Both strategic and competitive benchmarking are types of
external benchmarking processes. Below are a few other external
benchmarking examples to help businesses learn and improve.
• Collaborative benchmarking: Companies collaborate with industry
associations for comparative analysis.
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• Process benchmarking: Businesses study their competitors’
processes, methods, and operations to identify improvement
opportunities.
• Product benchmarking: Organizations compare their offerings
with other products on the market. It includes evaluating
features and attributes.
• Corporate benchmarking: Companies compare the
functioning and performance of various departments such as
manufacturing, employee success, marketing, and others
with their competitors.
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▰ Internal benchmarking
▰ Internal benchmarking enables companies to assess and
compare their performance metrics over a period. This helps
decide the steps to enhance business performance,
effectiveness, and efficiency. Internal benchmarking is
relatively easier since a company has access to its own data,
allowing a business to enhance and modify its processes.
▰ On the other hand, internal benchmarking limits how
businesses can improve their performance because they
spend more time evaluating their processes rather than
learning from the top performers.
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▰ Businesses perform various types of internal performance
benchmarking, including:
• SWOT Analysis. Businesses list their strengths, weaknesses,
opportunities, and threats (SWOT) to analyze and gain insight
into where and how to improve. Many companies use strategic
planning software to perform these analyses.
• Financial benchmarking. Companies compare financial
performance against forecast to take corrective action and
further improve their financial operations.
• Performance metrics. Organizations evaluate their
performance based on metrics preferred by clients, helping
them identify performance gaps.
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▰ Performance benchmarking best practices
▰ Businesses can adopt the following best practices to
gain actionable insights from the benchmarking
process:
• Make an early start. Businesses should identify
improvement opportunities earlier.
• Fix a timeline. Companies can set a performance
benchmarking scope to ensure analysts timely finish all
research activities.
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Choose a relevant study group. Analysts should consider the
business model, location, size, and product category while
selecting a company for comparative analysis.
Look outside the industry. Performance benchmarking
teams can brainstorm with experts from other industries
dealing with similar problems.
Improve operations. Businesses should focus on improving
the processes, operations, and strategies that drive business
KPIs.
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THANK YOU!!!!
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Shweta Sharma 10800321063 A 5 Electronics and Communication Engineering 3 Subject Name Computer Architecture EC502C

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NAME – Shweta Sharma

UNIVERSITY ROLL NO. – 10800321063

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