Setting up benchmark is to help management measure the work, not restrict or set up barriers to the work.
"Digital Master” is a series of guidebooks (28 + books) to perceive the multi-faceted impact digital is making to the businesses and society, help forward-thinking organizations navigate through the journey in a systematic way, and avoid “rogue digital.” It perceives the emergent trends of digital leadership, provides advice on how to run a digital organization to unleash its full potential and improve agility, maturity, and provide insight about Change Management. It also instructs the digital workforce on how to shape a game-changing digital mindset and build the right set of digital capabilities to compete for the future. Here is a set of “Benchmarking” quotes in “Digital Master.”
1 Benchmarking has several triggers and objectives, and often a variety of outcomes and downstream initiatives.
3 Many organizations use benchmarking as a hammer to drive out the cost. It can become a de-motivator to the workforce and cause organizations to lose competitiveness while achieving only a short term cost improvement.
4 Benchmarking is like a quick health check which highlights the areas where improvement or quick fix might be required. Benchmarking often provides good data and highlights issues and its incumbent.
5 The more details in benchmarks the better information can be used. It’s critical to understand to a certain degree where you stand.
6 The benchmark is usually APPLE-to-APPLE comparison; same business model, same industry, and within the same competition domain.
7 Benchmarking is a good measurement for tangible stuff. However, value added services are usually out of the standard benchmark scope.
8 Benchmarking can provide only a backwards-looking perspective because the data, necessarily, refers to how both the 'peer group' and your own organization has performed in the past.
9 Before a benchmark or any other metric is applied, the proposer needs to specifically state what actions will be taken in response to variations in the value of that metric.
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