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Generic Benchmarking

Generic Benchmarking:
For Solving Problems…
and for Life


Introduction
Your organization—and you as a leader—need to be creative and adaptive in order to be competitive. If you have a problem to solve, you need to come up with a solution that best meets your goals and objectives. To avoid having to reinvent the wheel, you can look for ideas or best practices in many different venues.

Approaches to Benchmarking
A possible first step in identifying potential solutions is to find the best practices of those who have faced and solved a similar problem. Where do you find it? Perhaps you should model your solution on what the best among your competitors has done in a similar situation. This is called competitive benchmarking, and it reflects two problems, one obvious and one subtle. The obvious shortcoming is that competitors are not likely to share and surrender a competitive advantage. Less obvious is that if the problem is more generic than specific to your industry,......


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Approximate Word Count: 2404
Approximate Pages: 10 (250 words per double-spaced page)

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