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Submitted to: Ma’am Maryam Rehmat
Submitted by: Momna Zafar

BBA HONS.
Semester 7- Section B
01/12/2015

Submitted to: Ma’am Maryam Rehmat
Submitted by: Momna Zafar

BBA HONS.
Semester 7- Section B
01/12/2015

Explain how an organization might benefit from benchmarking and what are the difficulties encountered when benchmarking direct competitors?

Benchmarking:
Benchmarking is an organized constant process of measuring the organization’s work progress and then improving the performance by understanding and adapting outstanding practices from other organizations. So it is basically the process of adopting the best strategies of successful organizations in order to improve the performance and making continuous improvements in your own organizations.
Benefits of Benchmarking to the organization: * Benchmarking helps the organization in understanding the weaknesses and strengths of the business. * It benefits in satisfying the customers’ needs by creating new goals and principles. * Encourages employees to reach new principles * Encourages employees to be powerful on new developments * Allows organizations to understand the possible level of performance by looking at others * Helps in establishing innovative ideas efficiently and effectively * Helps organizations in increasing their competitive advantage * Another benefit of benchmarking is a current-state assessment of the function. It compares the internal and external performance and cost. It results in more secure understanding of the cost of the function and performance. * Benchmarking also benefits the organization in strong foundation for transformation programs. It enables the organization to recognize and highlight opportunities easily. * It benefits the organization in making continuous

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