Benchmarking assumes that being at least as good as the leader is a prerequisite to being competitive.
EVA (economic value added analysis) is a good start to assess the competitiveness of an enterprise in the global marketplace, but to it we must add benchmarking. Benchmarking is a tool that helps a firm tell whether or not it is globally competitive. Benchmarking assumes, correctly, that what one company does another company can always do as well. “Best performers” are often found in identical services or functions inside an organization, in competitor organizations, but also in organizations outside the industry. Together, EVA and benchmarking provide the diagnostic tools needed to measure total-factor ...
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