Suggestions for Improving Benchmark Efforts 1Link benchmarkingfforts sratjivs. 2.Have therigh-sized team-betwen sixdight pople is most ffective. 3.nvolve thoseindividas whwill be directly ffected by benchmarking fforts. 4.Focus specific,targeted issues rather than broad,general ons. .Set realistic timetables. 6.Choose benchmarking targets carefully. .Observe properrohrng benchmarkingin byng withth proate individuas. 8.Don't collct excessive,unnecessary data. 9.Look at the processes behind the numbers,not just at the numbers themselves. 10.ldentify bnchmarking taets and thn be sure to takectio. Source:Based on J.H.Sheridan.Where Benchmarkers Go Wrong."Industry Week.March 15.1993.pp.28-34. ©Prentice Hall,2002 9-11
Suggestions for Improving Benchmark Efforts © Prentice Hall, 2002 9-11
Techniques For Allocating Resources Resources the assets of the organization take many forms,including financial,physical,human. intangible,and structural Budgeting budgets -numerical plans for allocating resources to specific activities are prepared for revenues,expenses,and large capital expenditures are applicable to a wide variety of organizations and activities force financial discipline ©Prentice Hall,.2002 9-12
Techniques For Allocating Resources Resources – the assets of the organization – take many forms, including financial, physical, human, intangible, and structural Budgeting – budgets - numerical plans for allocating resources to specific activities • are prepared for revenues, expenses, and large capital expenditures • are applicable to a wide variety of organizations and activities • force financial discipline © Prentice Hall, 2002 9-12