Foreign country Essay Example | Topics and Well Written Essays - 500 words

Foreign country - Essay ExampleAs a y come forwardhful comer in the industry, it is prudent for the company to seek ways to elevate its performance toward the standard benchmarks isthmus forth by its forerunners.In simple terms, benchmarking can be defined as learning from the pros (American productiveness & Quality Center, 1993). Benchmarks are very essential for organizational operations in that they lay in the unmannerly the processes that hold the keys to a successful business take off and the subsequent operations. Through such standards, a business conjecture Lodgit Courier will identify and adopts a mix of practices of top performers that will in effect define the course that the business initiative takes. Put quite simply, benchmarking is the art of finding out straightforward organization and implementation strategies that leads to success. The concept engenders comparative efficiency to other industry key players with the absorbed to know the exact processes, procedur es, and/or technological applications principles that can results in the production of superior outputs (Ammons, 1996 Camp, 1989). Since businesses are in all about competition, benchmarking plays a very important role of measuring specific performance gaps that could be utilise to gain competitive advantage (Boxwell, 1994). Indeed, it is not a cost to be avoided, but a appliance that when utilized properly can result into quantum leaps in organizational performance (Dodd and Turner, 2000).Given that this joint venture business, it would take an influential positive stand to convince colleagues that certain standards have to be met for the company to pillow competitive in the industry. It is also essential to note that group of investors can consistently utilize a common investment strategy and emerge victorious. As leant in the analysis of market efficiency, market outcomes are not always efficient to all investors due to the cost of information which may lean towards those wit h the strength to acquire such, if at