Industry Benchmarking ©
In contrast to conventional “best-in-class benchmarking,” which assumes a solution and examines the top performers of it, Industry Benchmarking examines how firms and/or professions in other industries have coped with similar problems. By examining both successful and failed approaches to the same problem, Industry Benchmarking gleans lessons from of all who have gone before – not just the most successful. By learning from mistakes as well as from victories of others coping with similar transitions, Industry Benchmarking helps clients to determine how and why different courses of action shaped different outcomes. Armed with this unique insight, clients are able to respond rapidly and confidently to profound structural changes.
In contrast to conventional “best-in-class benchmarking,” which assumes a solution and examines the top performers of it, Industry Benchmarking examines how firms and/or professions in other industries have coped with similar problems. By examining both successful and failed approaches to the same problem, Industry Benchmarking gleans lessons from of all who have gone before – not just the most successful. By learning from mistakes as well as from victories of others coping with similar transitions, Industry Benchmarking helps clients to determine how and why different courses of action shaped different outcomes. Armed with this unique insight, clients are able to respond rapidly and confidently to profound structural changes.
Objective of Industry Benchmarking©: Mark Twain once observed, “The human animal is unique for its ability to learn from the mistakes of others and noteworthy for its absolute refusal to do so.” Because some change is just now affecting your markets, does not mean that others have not dealt with them before. Industry Benchmarking© examines other, often unrelated industries and professions that have already experienced changes similar to those affecting your markets and customers to determine what worked and what did not.
