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BENCHMARKING Benchmarking is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the best in the industry, “best in class.” The point of benchmarking is to identify internal opportunities for improvement. By studying companies with superior…
Somesh Ruppa
updated on 27 Dec 2022
BENCHMARKING
Benchmarking is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the best in the industry, “best in class.” The point of benchmarking is to identify internal opportunities for improvement. By studying companies with superior performance, breaking down what makes such superior performance possible, and then comparing those processes to how your business operates, you can implement changes that will yield significant improvements.
That might mean tweaking a product’s features to more closely match a competitor’s offering, or changing the scope of services you offer, or installing a new customer relationship management (CRM) system to enable more personalized communications with customers.
There are two basic kinds of improvement opportunities: continuous and dramatic. Continuous improvement is incremental, involving only small adjustments to reap sizeable advances. Dramatic improvement can only come about through reengineering the whole internal work process.
STEP-BY-STEP BENCHMARKING
Benchmarking is a simple, but detailed, five-step process:
Benchmarking will point out what changes will make the most difference, but it’s up to you to actually put them in place.
In order to benchmark anything, you need to have quantitative data available to study. That means breaking down internal processes to calculate performance metrics. Quantify everything, because only quantifiable information can be accurately compared.
BENEFITS
In addition to helping companies become more efficient and profitable, benchmarking has other benefits, too, such as:
In essence, benchmarking helps employees understand how one small piece of a company’s processes or products can be the key to major success, just as one employee’s contributions can lead to a big win.
REQUIREMENT
Benchmark with presently available cars in the market for the following case.
Mr. D.S. Pughazhyendhii is a married man who lives in Bangalore which is a highly crowded city. His Family comprises five members including his wife, five-year-old boy, his father, and his mother. He visits his native place Madurai which is 500kms away from Bangalore once in a month. Also, he will be using his car to commute to his office. His budget falls between 8 to 10 lakhs on road. Please suggest to him with options so that he will buy a good car for his family.
Note: Pughazhyendhii is fond of big cars
In my view,
I would suggest Diesel Engine Vehicle, SUVs and Sedans is preferrable.
SUGGESTIBLE CARS
TATA NEXON
Pros:
Cons:
MODELS / SPECIFICATIONS |
TATA NEXON |
ARAI Mileage |
21.5 kmpl |
Engine Displacement (cc) |
1497 |
Max Torque (nm@rpm) |
260Nm@1500-2750rpm |
Transmission Type |
Automatic |
Fuel Tank Capacity |
44 |
Max Power (bhp@rpm) |
108.5bhp@4000rpm |
Seating Capacity |
5 |
Boot Space (Litres) |
350 |
Body Type |
SUV |
Safety |
16.06/17 |
HYUNDAI VENUE
Pros:
Cons:
MODELS / SPECIFICATIONS |
HYUNDAI VENUE |
ARAI Mileage |
18.14kmpl |
Engine Displacement (cc) |
998 |
Max Torque (nm@rpm) |
171.6Nm@1500-4000rpm |
Transmission Type |
Automatic |
Fuel Tank Capacity |
45 |
Max Power (bhp@rpm) |
118.35bhp@6000rpm |
Seating Capacity |
5 |
Boot Space (Litres) |
350 |
Body Type |
SUV |
Safety |
4 stars NCAP rating |
MARUTI SUZUKI VITARA BREZZA
Pros:
Cons:
MODELS / SPECIFICATIONS |
MARUTI SUZUKI VITARA BREZZA |
ARAI Mileage |
18.76kmpl |
Engine Displacement (cc) |
1462 |
Max Torque (nm@rpm) |
138Nm@4400rpm |
Transmission Type |
Automatic |
Fuel Tank Capacity |
48 |
Max Power (bhp@rpm) |
103.26bhp@6000rpm |
Seating Capacity |
5 |
Boot Space (Litres) |
328 |
Body Type |
SUV |
Safety |
12.51/17 |
FORD ECO SPORT
The Ford Ecosport is considered as one of the best sub-4m compact SUVs currently on sale in the Indian market. The car gets powerful and refined engines and also comes with an aggressive and appealing design language. If you in the market to buy a new compact SUV and wondering if the Ecosport is the best of all.
Pros:
Cons:
MODELS / SPECIFICATIONS |
FORD ECO SPORT |
ARAI Mileage |
21.7kmpl |
Engine Displacement (cc) |
1498 |
Max Torque (nm@rpm) |
215Nm@1750-2500rpm |
Transmission Type |
Manual |
Fuel Tank Capacity |
52 |
Max Power (bhp@rpm) |
98.63bhp@3750rpm |
Seating Capacity |
5 |
Boot Space (Litres) |
352 |
Body Type |
SUV |
Safety |
4 stars NCAP rating |
COMPARISON
MODELS / SPECIFICATIONS |
TATA NEXON |
HYUNDAI VENUE |
MARUTI SUZUKI VITARA BREZZA |
FORD ECO SPORT |
ARAI Mileage |
21.5 kmpl | 18.14kmpl | 18.76kmpl | 21.7kmpl |
Engine Displacement (cc) |
1497 | 998 | 1462 | 1498 |
Max Torque (nm@rpm) |
260Nm@1500-2750rpm |
171.6Nm@1500-4000rpm |
138Nm@4400rpm | 215Nm@1750-2500rpm |
Transmission Type |
Automatic | Automatic | Automatic | Manual |
Fuel Tank Capacity |
44 | 45 | 48 | 52 |
Max Power (bhp@rpm) |
108.5bhp@4000rpm | 118.35bhp@6000rpm | 103.26bhp@6000rpm | 98.63bhp@3750rpm |
Seating Capacity |
5 | 5 | 5 | 5 |
Boot Space (Litres) |
350 | 350 | 328 | 352 |
Body Type |
SUV | SUV | SUV | SUV |
Safety |
16.06/17 | 4 stars NCAP rating | 12.51/17 | 4 stars NCAP rating |
CONCLUSION
I would suggest Tata Nexon for Mr. D.S. Pughazhyendhii family, Nexon is a excellent offering which is safest car in its segment. It is also value for money product with class leading features.
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