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Benchmarking for strategic action.

K Jennings, F Westfall

The Journal of Business Strategy

|April 8, 1992

Summary

This summary is machine-generated.

Strategic planning is enhanced by benchmarking efforts that analyze customer expectations, competitor vulnerabilities, and organizational strengths. This approach ensures a company

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Area of Science:

Business Strategy
Competitive Analysis
Organizational Management

Background:

Effective strategic planning is crucial for business success.
Benchmarking is a valuable tool for organizational improvement.

Purpose of the Study:

To outline a strategic benchmarking framework.
To identify key elements for driving strategic planning.

Main Methods:

Analysis of customer expectations.
Assessment of competitor strengths and vulnerabilities.
Evaluation of organizational competencies.

Main Results:

A focused benchmarking approach integrates critical business factors.
Benchmarking can directly inform and improve strategic planning.

Conclusions:

Integrating customer, competitor, and internal analyses into benchmarking optimizes strategic planning.
This holistic approach enhances a company's competitive positioning.