In this article we will discuss about the concept and process of benchmarking of a company. Concept of Benchmarking: The concept of benchmarking was pioneered in USA by Xerox Corporation in 1979. Benchmarking is defined as the continuous process of measuring the products, services, and business practices of a company against the toughest competitors or those companies recognised as industry [...]
The evidence of researches so far made provides two major approaches to achieving competitive advantage:- 1. Market share approach, and 2. Synergy approach. Major sources of competitive advantage for each of these approaches are indicated in the diagrams next— Market Share Approach: Let us now briefly examine the sources and arguments concerning market share and implications for strategy: 1. Scale [...]
The corporate restructuring strategies of a company can be thought of from two aspects:- Hardware Restructuring and Software Restructuring. Hardware Restructuring: This involves redefining and/or modifying the structure of the organisation so as to make it more efficient in decision-making, responsiveness, and intra-organisational communication, etc. Some suggested strategies are as follows: (i) Identification of core competency and portfolio pruning: This [...]