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Related Experiment Videos

Exceed your goals.

J Lawrence

    Hospitals & Health Networks
    |November 11, 1999
    PubMed
    Summary
    This summary is machine-generated.

    Traditional benchmarking is evolving. Managers now focus on internal performance, top industry leaders, and even external role models to identify best practices and achieve superior results.

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    Area of Science:

    • Business Strategy
    • Performance Management

    Background:

    • The traditional model of competitive benchmarking, relying on purchasing competitor data, is increasingly seen as insufficient.
    • Managers are seeking more effective methods to set and achieve performance goals.

    Purpose of the Study:

    • To explore evolving benchmarking strategies beyond traditional competitive data analysis.
    • To identify innovative approaches for setting and surpassing organizational goals.

    Main Methods:

    • Analysis of contemporary management practices in goal setting and performance improvement.
    • Qualitative insights from industry leaders and benchmarking experts.

    Main Results:

    • Managers are adopting diverse benchmarking strategies, including self-referential performance tracking.

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  • Comparison with industry leaders and cross-industry role models are emerging as key practices.
  • Focus is shifting towards identifying and replicating best practices.

    • Conclusions:

    • Effective benchmarking requires a broader perspective than just competitor data.
    • Identifying and implementing best practices, regardless of their origin, is crucial for success.
    • Adaptable and innovative benchmarking approaches are essential for modern goal achievement.