Thursday, October 17, 2019

The Best “Benchmarking” Quotes of “Digital Master” Oct. 2019

 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.

2 There needs to be a strategic reason for benchmarking in the first place. Setting up benchmark is to help management measure the work, not restrict or set up barriers to the work.

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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