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Four Types of Benchmarking Practices

Discuss about the Organizational Best Practice for Benchmarking Exercise.

The process of Benchmarking is considered to be very crucial for any of the concerned organization it helps in evaluating the desired growth of the particular firm against the other competitors within the targeted market segments (Dale, Wiele, & Iwaarden, 2013).  This researcher paper will help in reflecting the different facts related to the best practice methods adopted by different organizations in order to enhance their business process. In order to enhance the effectiveness of a particular organization, the most important are to understand the preferred role of the benchmarking process in the establishment of the organizational competitiveness.  Toyota Corporation has been taken under consideration as to understand the desired aspects of benchmarking in evaluating the significant growth of the firm ("Toyota motor corporation global website", 2016).  Toyota is one of the leading firms operating in different countries across the world and here is a crucial requirement for the form to enhance its business process by various methods. From the past twenty years, it has been seen that benchmarking is the most crucial part of the management process as it helps in evaluation of the business process in an effective manner.  The best practice reveals the preferred approach for improving the overall competitiveness of the concerned organization and increases the efficiency of the business process of the firm (Differential Evolution, 2009).  The managers are provided with the desired set of tools as well as innovative techniques as to identify the required position where the improvements can be done. 

There are four different types of the benchmarking processes which have significantly contributed towards the development of growth of any of the firm concerned.   The four types of the benchmarking are internal, competitive, functional and generic. 

First is the internal resemblance which has the use by many industries as it helps the companies in setting up of their industry standards. This process basically helps in setting up of the desired standards to meet the demands and the needs of the company as per the requirement of the customers. It becomes very important for any of the organization to set the desired standards and the rules and regulation to meet the demands and the expectations of the customers related to the offering of the products as well as the services (Okumus, Altinay, & Chathoth, 2010).   The representative bodies set up the desired standard against the issues represented and this is revealed as the BCorp setting as to be the standard for the sustainable organizations.  The best practices in Toyota Corporation are merely for the improving of the desired business activities of the concerned firm and it is related to the quality management techniques and the frameworks of business excellence ("Stroke: latest treatment options in acute management", 2015).   The use of the best practices by Toyota includes the quality improvement techniques as to provide the best quality of services as well as the products to all of the customers concerned. Toyota is one of the wells established firms in the field of car manufacturing and selling and therefore it becomes very crucial for the firm to utilize the best techniques for the improvement of the products offered by hem to the consumers (Thomack, 2012).  In order to increase the growth rate and the profitability of the concerned firm, it becomes very important to look at the desired areas for improvement as this helps in providing the competitive advantage to Toyota Corporation (Fabozzi and Markowitz, 2011). Thus, whilst concept such as eminence circles as well as certain valuable point have been broadly established and used, the numerical aspect of superiority management contain frequently remain the deserted part of QMSs. Moreover, two reasons for this condition of dealings: dimension difficulty along with quantitative illiteracy of workers (Kahn et al., 2013). In between these two tribulations, quantitative illiteracy is no doubt the harder to defeat.

Competitive benchmarking is the second process of benchmarking. Published standards, as well as the measures, are another standard used as the benchmark for Toyota and this comes in the category of competitive benchmarking. Different managers are able to then compare a variety of fundamentals restricted in competitive goods to their individual manufactured goods line. Then, improvement can be completed to product superiority.  It increases the selling of the products within the concerned competitive market segments. The management team of Toyota Corporation is engaged in providing the best quality of services as well as the products to meet the demands and expectations of the customers as it becomes very important to assist the customers with best services throughout the competitive market segments. The overall performance of Toyota has been seen to have an elevation in their growth rate by the use of effective and effectual strategies as compared with the other competitors. The differentiation in the pricing strategy by Toyota has worked well for the firm and the improvement in the quality has increased the reliability of the users and provided them an unmatched experience as compared with the similar products from its respective competitors (Wang & Ramaswamy, 2015).  The qualitative and the quantitative tools play the most vital role in the development of the concerned key processes.  The using of numerical method in the specialized quality management system (QMSs) is considered as a normally discussed matter ever as the total quality management (TQM). Many o the well-known researchers claimed the superiority association symbolizes an impetus for dimension. A certified company, therefore, provides the direction according to a fixed standard for defining and measuring the performances of Toyota Corporation (Jones and Silverstein, 2009).   Moreover, the business processes can be easily compared with that of the other companies and this comparison provides the desired information related to the improvements regarding the delivering of the products as well as the services offered by the firm.  as discussed above in the first process, quantitative literacy include not only numerical literacy (the aptitude to choose, use as well as understand the consequences of good statistical method to resolve a difficulty), but too supercomputer literacy (the skill to use the correct statistical software’s to resolve a known difficulty) plus online literacy (the capability to discover and admissible data plus information online) (Office, 2009).


The third form of the benchmarking is the process of benchmark i.e., functional which helps in the evaluation of the Toyota benchmark processes against the other companies or in comparison with the past performances as to identify the desired improvement in the performance of the concerned firm (Mullins, 2007).    Total quality management is considered to be the most useful and crucial process which helps in identifying the performances of the firm and recognizes the area where the improvements can be made.   There are different concepts used by Toyota as the vital benchmarks for the total quality management techniques such as the utilization of the six-sigma and the lean methods. The third form of Toyota benchmarking focuses on the desired specific outcomes as well as on the benchmark outcomes to evaluate the improvement in the concerned performance of the entire firm.  It becomes very important to know that in order to provide the best services; the areas of improvement should be recognized.  This particular for of the benchmarking process reveals the different aspects of the improvement of the services as well as the products offered to the customers.  There are certain examples of this type of benchmarking such as Awards, prizes, gold medals or the wines. This also improves the performances of the employees regarding the execution of their work processes (Rennie, 2012).   Moreover, there needs to be development and formation of the effective management team for execution of the different steps involved in the benchmarking processes (Ryall, 2010). The organizational culture plays the major role in the enhancement of the overall performances of the organization on the large scale.  Benchmarking is able to profit not only big but also little companies. In code, it is easier to side up with a company of comparable size, as companies of diverse size move toward procedure in diverse traditions (Schnerrer, 2014). Though, there are fundamentals in a number of processes that are like, no matter the dimension of the corporation. In order to execute the different processes of total quality management, it becomes very crucial for Toyota to understand the desired concepts of benchmarking. Moreover, the difference between competitor research and benchmarking needs to be understood effectively by Toyota. The aim of a Toyota benchmark is to measure the desired competitiveness of the performances of employees; it helps in the understanding of the company's current work processes, support from the leadership team and documenting the current work processes (Saran, Wasala, & Ayub, 2015).  Toyota has developed a desired set of standards to enhance the overall quality of its products. 

The fourth form of the benchmarking is the setting up of the future milestone which comes in the category of generic benchmarking. This provides the desired way for the improvement of the entire process in Toyota Corporation by the formulation of the effective strategies regarding the evaluation of the concerned business practices.  In addition, it just finds the way for the firm to ensure that the business processes are on the right track as to achieve the goals and aims of the firm. Furthermore, the process of a benchmark is supposed to be very helpful for Toyota Corporation as it evaluates the desired expansion of the business process of the organization to a wide area of the market segments. The benchmarking reduces the labor costs and provides the desired elevation in the enhancement of the growth of the business processes concerned.  It improves the quality of the products as per the satisfaction of the customers. Toyota also uses benchmarking to get better merchandise quality. Engineers occasionally purchase foremost competitors' goods (Saran, Wasala, & Ayub, 2015). The development of the business excellence framework helps in focusing on the desired strategic options in order to enhance the overall performance of the firm within the targeted market segments.   The company has skilled and professional employees who help in bringing out the desired positive outcomes for the firm and these contribute towards the development of the growth and expansion of the organization.  The human resource department helps in the perfect execution of the benchmarking processes.  Toyota Corporation is one of the leading car sellers and the firm has established its reputation by working as per the satisfaction of the customers and therefore the effective use of the benchmarking processes enhance the execution of the business process of the firm.  The organization culture, as well as the management of the business processes from the Human Resource department, provides the desired elevation in the work processes of the organization (Okumus, et al. 2010). The benchmarking reduces the labor costs and provides the desired elevation in the enhancement of the growth of the business processes concerned.  These processes need to be utilized by the Toyota Corporation effectively as to increases the profitability of the organization.

There are five of the crucial variants proposed for the benchmarking processes; these are internal, competitive, shadow, industrial and transnational.  The effective plan for the benchmarking consists of the following steps:

  • Determination of the process for benchmarking
  • Determination of the organization as for benchmarking
  • Gathering of the relevant data
  • Analyzing the gaps
  • Determination of the future trends
  • Revealing the results and selling of the concerned products
  • Achieving consensus on the revision of goals
  • Establishment of action plans
  • Implementing of the plans and monitoring of the desired results
  • Recalibration of the benchmarks

The probe system has been considered to be the most useful for the execution of the benchmarking processes. The introduction of the probe helps in measuring the practice and the performances within the enterprises (Hall, 2014). It gathers relevant data for analyzing in a group session involving a desired cross-functional group of the stakeholders within the particular business.   The system helps in identifying the desired requirements of the customers by comparing the work process with a wide variety of the enterprises and it compares the data from more than 10,000 of the businesses.  Moreover, it produces the effective data used for the generation of the effective business methods and therefore its use is considered to be crucial for Toyota Corporation (Holloman and Adeyeri, 2012). The Probe system will, therefore, help in enhancing the business processes of Toyota Corporation.

The recommendations are clear that the implementation and the understanding of the desired concepts of the benchmarking need to be used for the development of the business processes of Toyota Corporation.  Effective means of planning helps in the evaluation of the business processes and therefore to be successful it is important to synchronize the entire processes used. The quality of the products, as well as the services offered by the firm, should be improved with the help of the different techniques of Total quality management and Six-Sigma. The effective use of the different steps involved in the process of benchmarking such as preparation and planning, data collection methods, data analysis, reporting, learning from the best practices, improvements in the desired actions and institutionalizing the learning process.   The key actions now are the corroboration as well as normalization of data. Earlier than one be able to carry out any significant analysis, it's necessary that all information be validated to set up its correctness and wholeness. 

Conclusion

The paper critically evaluated the different facts related to the benchmarking processes. A Toyota corporation is one of the leading car manufacturers which help in understanding the role and the importance of the benchmarking process for the development of the growth of the concerned firm.   The best practice reveals the preferred approach for improving the overall competitiveness of the concerned organization and increases the efficiency of the business process of the firm.  The four types of the benchmarking are internal, competitive, functional and generic.  These processes need to be utilized by the Toyota Corporation effectively as to increases the profitability of the organization.  The role of the benchmark is to measure the desired competitiveness of the performances of the concerned organization; it helps in the understanding of the company's current work processes, support from the leadership team and documenting the current work processes. It improves the quality of the products as per the satisfaction of the customers. It is recommended that the quality of the products, as well as the services offered by the firm, should be improved with the help of the different techniques of benchmarking such as Total quality management and Six-Sigma.

References

Dale, B., Wiele, A., & Iwaarden, J. (2013). Managing quality. Hoboken, NJ: Blackwell Publishing.

Differential Evolution. (2009).

Gilles, T. (2012). Automotive service. Clifton Park, NY: Delmar, Cengage Learning.

Hall, M. (2014). Disingenuous: The Latest Legal Challenges to Insurance Market Reforms. Hastings Center Report, 44(5), 6-7. https://dx.doi.org/10.1002/hast.349

Holloman, C. & Adeyeri, E. (2012). The social media MBA. Chichester, West Sussex, U.K.: Wiley.

Jones, S. & Silverstein, B. (2009). Business-to-business internet marketing. Gulf Breeze, FL: Maximum Press.

Kahn, K., Kay, S., Slotegraaf, R., & Uban, S. (2013). The PDMA handbook of new product development. Hoboken, N.J.: Wiley.

Kendrick, R. (2010). Cyber Risks for Business Professionals. Ely: IT Governance Pub.

Morrissey, L. (2010). Latest literature on new economies, social economies.Development, 53(3), 433-435. https://dx.doi.org/10.1057/dev.2010.49

Mullins, J. (2007). Library management and marketing in a multicultural world. Mu??nchen: Saur.

Office, I. (2009). Key Indicators of the Labour Market (KILM). Geneva: International Labour Office.

Okumus, F., Altinay, L., & Chathoth, P. (2010). Strategic management for hospitality and tourism. Amsterdam: Butterworth-Heinemann.

Okumus, F., Altinay, L., & Chathoth, P. (2010). Strategic management for hospitality and tourism. Amsterdam: Butterworth-Heinemann.

Rennie, J. (2012). Rennie & Roberton's Textbook of Neonatology. London: Elsevier Health Sciences UK.

Ryall, M. (2010). Bridge management. Amsterdam: Elsevier/Butterworth-Heinemann.

Saran, S., Wasala, D., & Ayub, N. (2015). G466(P)?Percutaneous endoscopic gastrostomy (peg) in disabling children – a benchmarking exercise. Archives Of Disease In Childhood, 100(Suppl 3), A196.1-A196. https://dx.doi.org/10.1136/archdischild-2015-308599.420

Schnerrer, J. (2014). The Effect of Solution Transition on Steering the Sales Force: For New Marketing and Sales Metrics. Hamburg: Anchor Academic Publishing.

Schnerrer, J. (2014). The Effect of Solution Transition on Steering the Sales Force: For New Marketing and Sales Metrics. Hamburg: Anchor Academic Publishing.

Stroke: latest treatment options in acute management. (2015). The Pharmaceutical Journal. https://dx.doi.org/10.1211/pj.2015.20068513

Thomack, B. (2012). Time Management for Today’s Workplace Demands. Workplace Health Saf, 60(5), 201-203. https://dx.doi.org/10.3928/21650799-20120426-05

Toyota motor corporation global website. (2016). Toyota motor corporation global website. Retrieved 31 October 2016, from https://www.toyota-global.com/

Wang, Y. & Ramaswamy, M. (2015). Enhancing Trade Governance through Bench Marking Transparency Standards in Asia-Pacific Regional Trade Agreements. JBSGE, 10(3). https://dx.doi.org/10.15209/jbsge.v10i3.862

Fabozzi, F. & Markowitz, H. (2011). The theory and practice of investment management. Hoboken, N.J.: John Wiley & Sons.

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