Benchmarking Course in Singapore

Benchmarking is the method of comparing business processes and performance metrics against industry bests and best practices from other companies. Dimensions of benchmarking that are typically measured are time, quality and cost.

Benchmarking is a way of determining what the most excellent performance that can be achieved, be it in a particular company, by a competitor or by an entirely different industry is. This information can then be used to recognise gaps in an organisation’s processes to achieve a competitive advantage.

To put it, benchmarks are the “what,” and benchmarking is the “how.” It is important to note that benchmarking is not an immediate or easy process tool. Before undertaking a benchmarking opportunity, it is essential to have a careful understanding of the business guidelines. Some organisations have strict guidelines as to what information can be collected, and whom to contact to get that information. Depending on the size of the organisation, practitioners may be amazed at what is already available in-house.

The Benchmarking Process

Benchmarking requires looking outward (outside a particular business, company, industry, region or country) to study how others accomplish their performance levels, and to surmise the processes they use.

Benchmarking helps explain the processes behind a great performance. When lessons learned from a benchmarking exercise are applied appropriately, they facilitate improved performance in critical functions within an organisation or critical areas of the business.

The application of benchmarking involves four key steps:

• Understand in detail existing business processes.
• Examine the business processes of others.
• Compare one’s business performance with another business.
• Implement the necessary steps to close the performance gap.

Benchmarking must not be regarded as a one-off exercise. To be effective, benchmarking must become an essential part of an ongoing improvement process, the goal being to keep abreast of ever-improving best practice.

This Benchmarking workshop is ideal for anyone who would like to gain a strong grasp and improve their Benchmarking.

The ideal group size for this Benchmarking course is:

The duration of this Benchmarking workshop is 2 full days. Knowles Training Institute will also be able to contextualised this workshop according to different durations; 3 full days, 1 day, half day, 90 minutes and 60 minutes.

Below is the list of course benefits of our Benchmarking course

• Enables organizations to evaluate their performance in comparison to other companies
• Enables comparison of performance within the different departments and units of organization
• Increases the responsibility and accountability of employees
• Promotes a culture of continuous improvement
• Enables better creation of strategy and vision of the organisation
• Provides a competitive edge to the company over rivals

Companies use Benchmarking to:

• Benchmarking identifies techniques of improving operational efficiency and product design.
• Benchmarking exposes an organisation’s relative cost position and identifies opportunities for improvement.
• Benchmarking helps organisations focus on capabilities that are critical to building strategic advantage.
• Benchmarking brings fresh ideas into the company and facilitates experience sharing and learning.

Below is the list of course objectives of our Benchmarking course

• Understand the term ‘benchmarking’.
• State the difference between benchmark and benchmarking.
• Identify the types of people who use benchmarking.
• Understand the company-to-company comparisons as well as comparisons between different departments
• Determine the benefits of benchmarking for organizations
• The 12 stage approach of benchmarking.
• The 3 types of cost in benchmarking.
• Internal vs external benchmarking.
• The 3 types of benchmarking
• Discover the various benchmarking tools
• State the difference between informal vs formal benchmarking tools
• Explain the challenges associated with benchmarking
• Devise techniques to prioritize opportunities for improvement
• Devise ways of improving company’s cost competitiveness
• Understand the different types of benchmarking
• Determine the critical success factors to gain a competitive advantage

Below is the list of course content of our Benchmarking training course

• What is benchmarking?
• What are the different types of organizational benchmarking?
• What are the benefits of benchmarking?
• How a company undertakes a benchmarking initiative?
• What is the future of benchmarking?
• Case study and group discussion among the participants.
• Benchmarking Case Study 1: Starwood Hotels & Resorts
• Benchmarking Case Study 2: Brookfield Zoo
• Benchmarking Case Study 3: Office of Federal Student Aid, Department of Education
• Benchmarking Case Study 4: XEROX
• Benchmarking Case Study 4: University of Exeter

Each participant will receive the following materials for the Benchmarking course

Each course participant will receive a certification of training completion

There are 3 pricing options available for this Benchmarking training course. Course participants not in Singapore may choose to sign up for our online Benchmarking training course.

Contact us for the latest Benchmarking course schedules:

Register For This Benchmarking Course Now!

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