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Evaluate your innovation performance with Industry Peers
- 1. Webinar with Mr. Kamal Hassan ,CEO Innovation 360 Impact, Innovation, Integrity, Inspiration and Insight!
- 2. POLL 1 : HOW FAMILIAR ARE YOU WITH BENCHMARKING AS A PLANNING/MANAGEMENT TOOL? ❑Very Familiar ❑Use it occasionally ❑Never used it
- 3. KEY DEFINITIONS Best Practices: “Practices that are followed by companies which are considered to be the best or superior to other organizations in a particular field such as operations or manufacturing Benchmarking: “Benchmarking is a process of comparing & contrasting best practices either within or outside the organization” Innovation: “ Making meaningful changes to organization culture or process that has an impact or improvement in the performance” Source: The International Journal of Organized Innovation
- 4. “Without the Evidence provided by Benchmarking, any claim that your unit is among the best is just an opinion” -Steve Veira, Intel Corporation
- 5. WHY BENCHMARKING? 1. 2. 3. 4. Analyze & Improve the process. To Gain Competitive Advantage. Align yourself to the future trends . Applying best practices to attain your organization goals. 5. Generation of new ideas and Techniques .
- 6. “79% of the Ceo’s recognize that benchmarking is critical but 95% claim that they do not know how to go about it.” –US based Study
- 7. CHALLENGES IN BENCHMARKING 1. 2. 3. 4. 5. Poor planning Lack of process leader involvement. Lack of management support & Skills Copying the practices without adopting the model. Measuring un-important/easy ones
- 8. BENCHMARKING TYPES Types Description Internal Benchmarking against best performing Business units in your company Competition Best –In Class Advantages Disadvantages •Similar language •Data Access •Quick Returns •Limited Returns •Limited Focus Benchmarking against your top players/ competition •Similar structure •Relatively low threat •Easy to compare •Legal Problems •Access to Data Benchmarking against the best in class in any industry that has similar process/functions •Legal Problems •Access to Data •Adoptability •Long term commitment Source: The Problems in Management of 21st Century,vol2,2011
- 9. EXAMPLES OF BENCHMARKING MODELS Model Name Year Category No : of Steps AT& T model 1992 Organization Based 9 Mass & Flake 2001 Consulting Based 10 Long bottom 2000 Consulting Based 11 Anderson & Meon 1999 Academic Based 8 Fong et.al 1998 Academic Based 15 Harrington& Harrington 1996 Academic Based 8 Xerox model 1996 Organization Based 10 Codling 1992 Consulting Based 12 Camp R.C 1989 Consulting Based 12 Source: The Problems in Management of 21st Century,vol2,2011
- 10. ARE YOU FAMILIAR WITH ANY OF THE BENCHMARKING MODELS? ❏Very familiar ❏Familiar with a few ❏Never heard of any of them
- 11. AT&T BENCHMARKING MODEL Project conception Re-calibration Planning Preliminary data collection Implementation Best in class selection Assessment Best in class data collection Source: Benchmarking: How to learn from best in practices,NPR,1992
- 12. BENCHMARKING IN GOVERNMENT BENEFITS 1. Government plays as a catalyst, leading the way. 2. Better use of Tax Payers Money. 3. Public can be served better. 4. To recognize struggling parts of particular services. 5. Encourage new partnership of Government & Business . Source: Can Benchmarking Best Practices work for the government?, Quality Progress,1997 EXAMPLE •Benchmarked Inventory best practices of similar transit companies. •Benchmarked against companies adjacent to the core industry. •Successfully adapted & implemented best practices. •Able to save cost & dissolution.
- 13. BEST PRACTICE DEVELOPMENT: ANZAC MODEL Define – What are the rationales for change? What are the desired Benefits & Outcomes and desired goals? 1. Evaluate Define Develop-What are the organizational objectives? What are the customer needs? How good we want to be (Benchmarking) ? How well are we performing(KPI) ? 2. Delivery- Controlling delivery in accordance to objectives, budget & Standard. Seeking feedback and defining Job responsibilities for effective delivery. 3. Ongoing Evaluation- KPI measurement, anticipation of impacts, delivery effectiveness. 4. Deliver Develop Support Source: The International Journal of Organized Innovation Support-Human Resource, Finance , Technology, Administration &Skill Management. 5.
- 14. BEST PRACTICES CASE STUDY (ECO-FRIENDLY INITIATIVES) EBay Eco Initiatives: Starbucks: Google: EBay practices the concept of exchanging of used goods ,hence reducing waste . Starbucks follows the practice of creating “Green stores” by which its able to reduce operating costs & reduce environmental damages . Starbucks Building strategy also supports the use of Eco friendly materials Google has taken initiatives to powering its facilities with renewable energy sources, hosting farmer markets & bringing goats to trim grasses EBay also practices “Green supply management system “ with its partner USPS Source: http://www.usanfranonline.com/companies-that-practice-environmental-sustainability/
- 15. HAVE YOU EVER BEEN TO ANY BENCHMARKING STUDY TOUR ? ❑Yes ❑ No ❑Not Aware of Such Tours
- 16. BEST PRACTICES, BENCHMARKING AND INNOVATION Innovation challenges business as usual and combines several elements to create new value The Challenge • Globalization has lead to increase in competition • Growth and competitive advantage is difficult to sustain and mostly understand uncertain To enhance Innovation: Identify and Understand best practices Benchmark best practices The Solution • INNOVATION: Companies need to create new value by combining different tools and models e.g. Benchmarking Create new value = INNOVATION
- 17. BENCHMARKING IN INNOVATION Cultivate: We analyze how the leaders in innovation have created a culture that supports innovation and “intrapreneurship”. Anticipate: We analyze how the leaders in innovation use insights from future scenario analysis in managing their innovation efforts Generate: We study how innovation leaders generate ideas internally (or externally), measure the ideas and prioritize them. Innovate: We observe how companies have developed and prototyped the ideas selected in the previous (GENERATE) step. Commercialize: We study how the leaders in innovation have taken the developed ideas to market and commercialized them profitably.
- 18. INNOVATION 360’S BENCHMARKING SOLUTION Benchmarking Solution Inpulse in Innovation 360’s Benchmarking solution that provides the opportunity for the following: • Opportunity to benchmark themselves against industry peers and innovative global enterprises. • International benchmarking tours offering companies rare opportunity to learn & observe best practices from industry leaders. • Pre- and post-visit workshops and onsite visits, providing corporate with an exclusive opportunity to learn from leaders
- 19. INPULSE OVERVIEW Focus • Focus on Global Business Challenges Compare • Compare and contrast results, methodologies and processes. Learn • Learn tools & techniques to make a meaningful change to improve organization programs, services, processes, operations and business model. Prepare • Prepare an innovation action plan based on the benchmark results.
- 21. HOST COMPANIES FOR THE NEXT INPULSE BENCHMARKING TOUR: OXFORD, UNITED KINGDOM - JANUARY 2014 Jaguar Land Rover is the UK’s largest automotive employer, with a world class team of nearly24,000 people. In the 2011/12fiscal year, JLR achieved record profits of £1.5 billion an increase of £392 million over the previous year. It is the UK’s largest automotive manufacturing business built around two iconic British car brands with a rich heritage and powerful consumer appeal and loyalty. Siemens Magnet Technology is the world's leading designer and manufacturer of superconducting magnetic resonance imaging magnets for medical applications.. Oxford Instruments is a leading provider of high technology tools and systems for research and industry. They design and manufacture equipment that can fabricate, characterise, manipulate and analyse matter at the atomic and molecular level.
- 22. CONCLUSION Benchmarking, Best Practices & Innovation are important operations that can help in improving the effectiveness. Benchmarking can be done adjacent to the core business . Best practices can be developed by continues benchmarking. Innovation i.e.) adoption of the best practices can lead into increase performance of the organization & also create value to the customer. .
- 24. FOR MORE INFORMATION VISIT: i360institute.com/inpulse E-mail: [email protected] Call: UAE (O) + 971- 4 319 7645
Editor's Notes
- #12: Project Conception –Commitment, Mission Definition, Resource allocation & Management Support.Planning- Select a Function/process or Product/Service to Benchmark.Preliminary Data Collection- Study metrics(Qualitative & Quantities) of current performance, gather data on internal operations, identify the problems that need to be solved .Best in Class Selection.- Primary & Secondary Research of target companies & sort the list based on the best in class process to benchmark.Best in Class Data Collection-Method of Data collection of the targeted company i.e.) Scheduled visits, Questionnaire or Telephone Interviews.Assessment – Compare the process your Benchmarking & Determine Relevant metrics. Identify the Gaps & apply the best practices that can be adoptable. Develop new goals ,performance targets & Strategies.Implementation Planning-Develop operational plan, Change Strategy & form a implementation team. The stakeholders should be completely involved in the whole process with the benchmarking team.Implementation-Progress & performance measured against milestones. Frequent feedback is given. Finally, changes should be formalized and fine tuned.Recalibration- Periodic assessment of the product ,follow the industry trends & repeat the benchmarking process if the need occurs.
- #18: Using the Innovation 360 5-step innovation framework, the benchmarking process can be carried out in a methodical flow from cultivate to commercialize.
- #21: 1. Benchmarking Preparation workshopIntroduction to Innovation 360’s benchmarking modelIntroduction to benchmarking tools and techniques2. Pre-visit workshopBest practices issues on innovation benchmarking and concepts.Introduction to host companies that are offering onsite visits.3. Onsite visitsVisits will be conducted at 2-3 top innovative companies, Participants will meet with senior executives and explore well-defined areas related to their innovation processes and systems.4. Post-visit workshopThe post-visit workshop focuses on gap analysis, building gap closure strategies and developing action plans based on the innovation benchmarking field study.