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    Qualitys“Benchmarketing” concept was introduced by Robert C. Camp at Xerox Corp. In 1979.Today it has gained world wide recognition and its usage can be seen all over the world, in a variety of sectors, finding applicability in diverse functional areas. Since time immortal in all human
    endeavors there has been competition, people have consciously or unconsciously resorted to benchmarking in their respective areas to beat or be the best. Studies carried out by various institutions indicate the positive effect of benchmarketing in organizations. The findings of a research carried out by the Massy University show that organizations engaged in benchmarketing activities grow up to 70 percent faster and become nearly 50 percent more productive as compared to companies that do not practice benchmarketing. The Price Waterhouse Coopers in their survey based the interview of CEOs of 405 product and service companies identified in the media as the faster growth and 45 percent greater productivity of companiew that followed the benchmarketing concept as compared t companies that do not benchmanrk Aroung 23 percent of the CEOs interviewed used bechmarkeing database to compare their company's metrics against industry peers, to determine theri relative competitiveness, including advantages and performance gaps. Research findings clearly indicate that benchmarketing plays a key role in propelling companies to excelling themselves and others. However, experts raise fears that intensifying competition could act as a barrier to knowledge sharing, curbing the competencies to attain superior status or competitive advantage. In such a case, these companies may consider it suicidal to divulge their core competencies which have given them the competitive edge. To learn more join the course of benchmarketing trends

    The Author: Dr. Jagadeesh Raj

     

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