Assessing Benchmarking Efforts Coursework Example | Topics and Well Written Essays - 750 words

Assessing Benchmarking Efforts - Coursework Example Benchmarking enables companies to identify the most successful strategies used by other similar companies, and then adopt appropriate strategies and measures to make their own programs more resourceful (Hinton et.al 2000, p. 53). For purposes of this study, we will examine the benchmarking initiatives adopted Xerox, one of the worlds top copier companies, through its Leadership through Quality program. We will consequently discusses the concept of benchmarking and its implementation in various processes including a customer satisfaction at Xerox and explore how the company presently uses benchmarks to align with international standards and lastly highlight the extent to which the existing benchmarks align with existing organizational goals. For Xerox Company, benchmarking came from a susceptible competitive crisis form Japanese and U.S competitors. According to analysts, the management failed to present the company a strategic trend. Xerox’s operating cost (and as a result, the prices of its products) was high and its products were of comparatively lesser quality compared to its competitors. The company suffered from its very centralized decision-making processes as well and because of this, return on assets dropped significantly to less than 8% and the copiers’ market share dropped sharply. The CEO David Kearns began emphasizing cutting of manufacturing costs and gave a new quality control by launching the Leadership Through Quality.’ Through this quality program, Xerox executed the benchmarking program. These incentives played a fundamental role in pulling the company out of crisis in future. Xerox even developed to become one of the greatest examples of the successful benchmarking implementation (McNair and Leibfried 1992, p.20). Xerox initiated a Customer Satisfaction Measurement System that incorporates customer research and benchmarking