Benchmarking as a way of strategic planning for business success

This article is to share some of the experiences gained during a session of Strategic Planning. Unlike the normal strategic planning that uses different tools such as PEST analysis, 5-forces of competition, SWOT analysis etc.. But this case study is the use of benchmarking as a strategic planning approach. Did it work?

In normal strategic planning, it is fair to say that it is a long time member of the team to use the various tools for analyzing business and competitive environment. The choice of Pest, 5 SWOT forces or much depends on the complexity and the competitive position of business. These tools help us understand the changing business and competitive environment and internal capabilities.

I was in the budget session, Roll-Out conducted by one of the companies I've worked with. It 'a normal event at the end of the year. The company's CEO talks about what happened between his administration and the shareholder of the company during the budget review session.

During the session, the CEO of the company restored the management company and give a presentation of business prospects and without fail, has presented the performance expectations of the company and a complete picture of the business scenario.

Among his speech, he cited several examples of best-of-the-best: case studies from several successful companies such as Honda USA, Porter-Gamble, Nike and Li-Fong in OEM in OEM in Asia, and changes landscape in the Banking Industries in Malaysia.

In its strategy development process, chose a few best practices from these companies and balanced with its business environment. He then developed a strategy called hybrid model orchestra. He informed the participants that during his conversation with some of the CEOs of these companies succeed, they are neither Marketer is not a professional engineer. Most of them came from a military background.

He also cited Wall-Mart, as the power of Critical Mass can be held, a market like Japan. How to Wall-Mart develop strategies for the marketing of a pair of overalls that is so affordable for daily change for the working class Japanese.

He mentioned that when a new candidate to join the army, one main thing that will not be sent for training in the management of a gun or some sort of weapon. However, the first day to report to duty is to shave the hair on the head. Once done, you should take a shower and changed to a new set of military uniform. The next morning, will wake up at five in the morning for an exercise in the morning.

He also explained how he interpreted these events in the business sense. He mentioned that these success stories there? He cited for instance that in military operations, while the discipline is the key to the operation, the next important factor is the alignment in which all the soldiers follow a direction. To strengthen these factors, all welds must wake up at 5 am to break your normal self. The objective is to force the soldiers to get out of their box comfortable.

In business strategy, there is no sure win strategy. He mentioned that the first person to conquer Mount Everest was actually in his first attempt failed, but he challenged again until they succeed. In summary, in this complex business environment and changing the landscape, leaders need to take to various resources to consider in developing a business strategy. A generic strategies how to capture more market, reduce operational costs is no longer adequate. Leaders must have an open mind to acquire key advantage of the different options and to develop a hybrid strategy to ensure their business success .......