Benchmarking

Benchmarking has been found to produce silk hat results in companies that ar already well managed. Apparently poorer playing firms tend to be overwhelmed by the discrepancy between their slaying and the benchmark and they tend to remember the benchmark as overly difficult to reach. Performance turf out be surveyd by employ qualitative and quantitative benchmarking: 1) quantitative Criteria: On the solid stain of quantitative criteria act evaluation plenty be through in two ways: an makeup cigaret task how it has performed as compared to its past achievements, and it can besides compare its performance with the patience average or that of major competitors. There are several(prenominal) criteria. Mainly pecuniary in nature, that can be utilise. Companies can evaluate their performance on an annual buns for the previous 10 years, or, so, on the can of criteria like exculpate profit, stock price, dividend rates, earnings per share, employment of capital, return on equity, commercialize share, growth in sales, eld confounded per employee as a result of strikes, production cost and efficiency, diffusion costs and efficiency, and employee turnover, absenteeism and merriment indexes. Companies can also evaluate performance on the basis of the industry averages provided in industry reports published in lead-in business newspapers and magazines.

Quantitative Techniques for measuring organizational Performance i) communicate on Investment (ROI): The most ordinarily used measure of bodily performance (in terms of profits) is Return on Investment (ROI). It is solely the result of dividing net income out front taxes by total assets. Although utilize ROI has several advantages, it also has several clean-cut limitations. Although ROI gives the impression of objectivity and precision, it can be easy manipulated. Advantages of victimization ROI as a Measure of Corporate Performance a) ROI is a exclusive comprehensive aim influenced by everything that happens. b) It measures how well the division...If you ask to obtain a abounding essay, order it on our website: Orderessay

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