Strategic Benchmarking Essay

Decent Essays

Evaluate how the strategic benchmarking system can be applied with reference to an organisation you are familiar with. (25 marks)

Strategic benchmarking is done in order to deliver the marked and impressive results so often noted. Strategic benchmarking is “ the process of deciding upon best practices as they relate to the strategies for reaching organizational goals. The practice includes a study of elements such as core competencies, process capability and strategic intent and alliances.” Camp (1989: 05). Its main objective is to devise the ideal strategy for improving organizational performance and how to adapt to ever changing environment with things such as competitors, the industry and the market overall. Assessment of …show more content…

The corporation headquarters are located in Norwalk, Connecticut. U.S.A . Presently the company is listed on the New York Stock Exchange with a net income of US$ 768 million, Total assets of US$18.14 billion and total equity of US$ 45.01 billion in 2016 according to information accessed on company website (online).

Strategic benchmarking at Xerox Corporation.
Xerox Corporation introduced the “leadership through quality” which encouraged the corporation to find ways to reduce their manufacturing costs. The corporation carried the exercise against their Japanese competitors Konica, Minolta, Cannon and Kyocera and they found out that ‘it took twice as long as the Japanese competitors to bring a product to market with five times the number of engineers, four times design changes and three times design costs” Xerox online (2017).
Xerox also found out that the Japanese competitors could produce, ship and sell units for about the same amount that it costed the corporation just to manufacture . In addition, the corporation posted “over 30 000 units defective parts per million – about 30 times more than its competitors” Xerox online (2017). This translates that the corporation would need approximately more than 20% annual growth for 5 consecutive years to catch up with their

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