Benchmarking is an important for establishing structure for key controls around business, such as evaluating, monitoring and identifying organizational processes or functions internally and externally and is used as a performance management and improvement tool to identify solutions. It is important that companies establish well-defined criteria before benchmarking to help manage the task and to understand and define exactly what the companies are interested in learning.
Research is important in benchmarking to get insider information, to help business leaders address their most challenging issues by using insights to identify gaps, develop solutions, grow revenues and profits, and to chart a pathway to performance. Many companies use reports that contain detailed analysis, findings, and insights from primary research studies probing business issues throughout the global economy, and to view less learned across industries, functions and key issues.
The following paper will show examples of benchmarking organizations, some of the key findings and concepts, and an analysis comparing and contrasting the application of concepts used by the benchmarking organizations, with hope that others can view and gain a better understanding of the importance of benchmarking, techniques that can be used, and the importance of the tool.
Individual Company SynopsizesAT&T WirelessAT&T is a global networking leader, focused on delivering IP-based solutions to enterprise and government customers. AT&T restructured into separate publicly held companies such as AT&T Wireless (AT&T 2008). AT&T wireless is cellular company that went from industry leader to industry loser. In 1994 AT&T Corp. purchased McCaw Cellular which cause many mixed emotions. Many of the McCaw employees felt as they were "losing the spirit of their entrepreneurial organization" (Richman 2004). At first the merger seemed like a great move, but after a few years the cellular industry began a consolidation movement which caused AT&T to be faced with an enormous competitive...