In benchmarking business model.docx - In benchmarking business model the performance of a business’ products is compared with its rivals EcoMax

In benchmarking business model.docx - In benchmarking...

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In benchmarking business model, the performance of a business’ products is compared with its rivals . EcoMax Plastics Ltd will use the benchmarking business model with a focus on recognizing their internal opportunities for improvement. According to Doumeingts & Browne (2016) , it is important to study firms that are performing better within the industry in the targeted market. By doing so, the business gets insights into how it can improve to outperform its rivals. In benchmarking business model, five steps are involved. First, EcoMax Plastics Ltd will choose the product or internal department which is to be used in benchmarking. Here, household items are chosen. The second step involves the identification of the rival business to benchmark with.
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Unformatted text preview: Here, Fineuse Plastics Ltd identifies Plasticycle recycling plant . The third step will entail collecting internal information regarding Plasticycle recycling plant . The fourth step will involve comparing the obtained information with that of EcoMax Plastics Ltd with a focus on identifying performance gaps. The last step is adopting the strategies that could help in improving the performance of the company. Through benchmarking, EcoMax Plastics Ltd will be able to make a big difference in terms of performance as compared to the already existing plastic recycling companies in the Algeria market. Figure 5.3 : Benchmarking Process...
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  • Spring '15
  • Mohamed Patel

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