Benchmarking process formalization and a case study

Abstract

Aims to formalize the benchmarking process by proposing methods and tools for the steps of the process. Focuses on the first two phases of the benchmarking process: measurement and self analysis (phase 1), and determination of subject and partners of a benchmarking study (phase 2). For this purpose, related to the first phase, a method of diagnosis is employed. In the second phase, three different data analysis methods (lexical analysis, principal components analysis and common factor analysis) are utilized. These two phases serve the purpose of an internal benchmarking (comparison between different domains of activities in the enterprise) and of an external benchmarking study (comparison between different enterprises). Three enterprises are selected for the benchmarking application. Related data are collected and analyzed, and results are reported.