Sunday, February 24, 2019
Benchmarking and Value Chain Analysis
According to Oakland (113) and Patterson article found online, patio marking involves the activities that be carried out in an arrangement that involves procedures used to equal the results that the arranging is producing with the means and processes used. A bench mark is like the targets that an organization would want to achieve in its operations to enable it make develop as far as its growth and development is concerned which every could be within or outside the organization (Dale 77).A benchmark for an organization should be something that adds value to the organizations performance and as an mop up result benefit all the employees of the organization and its customers. Meaning that if the identified changes be carried out it will help the organization achieve some if not all of its activities (Howell 135). An example of a business that has achieved the upper limit benefits from benchmarking is full general Electric. General Electric has achieved bench mark on talent man agement dodge.The strategy of General Electric on how they manage talents is by the way they rate the jobs they give and how they focus on game changers. They are the top enlisting firm when it comes to recruiting personnel from the military (Sullivan). On the separate hand, businesses and firms should make comparative benefits and should be able to have shareholder values. In hallow to do these, businesses and firms separate systems in different value-generating activities. And within every activity, a intent is set that the level of value should always exceed the cost of doing these activities.This all process is known to be value chemical chain analysis. In order to have more advantage that other(a) businesses, a firm should be able to utilize a cost advantage and differentiation. Cost advantage happens when the cost of a value chain is reduced better than other competitors. Differentiation, on the other hand, is the uniqueness of a particular value chain of firm from th e other firms (The Value Chain. ). An example of a firm that has achieved the maximum benefits from value chain analysis is the calculator producing company apple.Although, the computers they sell are high priced, they still mange to achieve the cost advantage among other computer brands by being number four in the sales of computers in the year 2008. Another thing is that Apple computers also achieved the differentiation among other computer brands. Apple computers are really unique in more ways, because they produce their own components for this computer that no other companies can produce. Thus, Apple has achieved value chain in their computers.