Name
Benchmarking Within Your Own Walls
Description
When striving for excellence, focus on internal metrics and standards. Measure performance against your company’s historical data and achievements. While industry benchmarks matter, continuous improvement comes from exceeding your own past performance. Implement a strategy to identify cost reduction opportunities, explore untapped revenue streams, and achieve operational excellence by addressing root causes.
Proposed Learning Objective (1)
Analyze and compare internal metrics and standards to measure performance against historical data and achievements of the company.
Proposed Learning Objective (2)
Evaluate the effectiveness of strategies for identifying cost reduction opportunities and exploring untapped revenue streams through quantitative and qualitative analysis.
Proposed Learning Objective (3)
Implement a detailed plan to achieve operational excellence by identifying and addressing root causes and continuously improving upon past performance metrics.
