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What is Benchmarking
Benchmarking is the process of determining who is the very best, who sets the standard, and what that standard is. In baseball, you could argue that seven consecutive World Series Championships made the New York Yankees the benchmark.If we were to benchmark “world conquest”, what objective measure would we use to compare Julius Caesar to Adolph Hitler; Gengis Khan to Napoleon? Which of them was the epitome, and why?

We do the same thing in business. Who is the best sales organization? The most responsive customer service department? The leanest manufacturing operation? And how do we quantify that standard?

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SOUTH BURLINGTON, Vt. — (Grassroots Newswire) - Are you an ice cream aficionado? Do you fancy yourself a flavor innovator? Then Ben & Jerry’s wants you to do them a “flavor!” Ben & Jerry’s announces the “Do Us a Flavor Contest” - an opportunity to become an honorary Ben & Jerry’s Flavor Guru and create an original, mouth-watering ice cream flavor.

“We hear suggestions from our customers all the time about different flavors we should be offering, now everyone has an opportunity to make some history at Ben & Jerry’s,” said Sean Greenwood, PR Poobah for Ben & Jerry’s.

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DUBLIN, Ireland — Research and Markets (http://www.researchandmarkets.com/reports/c67242) has announced the addition of “Tesco Plc - SWOT Framework Analysis” to their offering.

SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective.

The aim of any SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. SWOT analysis groups key pieces of information into two main categories:

Internal factors - The strengths and weaknesses internal to the organization.

External factors - The opportunities and threats presented by the external environment.

The internal factors may be viewed as strengths or weaknesses depending upon their impact on the organizations objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. The factors may include all of the 4Ps; as well as personnel, finance, manufacturing capabilities, and so on. The external factors may include macroeconomic matters, technological change, legislation, and socio-cultural changes, as well as changes in the marketplace or competitive position. The results are often presented in the form of a matrix.

SWOT analysis is just one method of categorization and has its own weaknesses. For example, it may tend to persuade companies to compile lists rather than think about what is really important in achieving objectives. It also presents the resulting lists uncritically and without clear prioritization so that, for example, weak opportunities may appear to balance strong threats.

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