Benchmarking allows firms to compare their performance with best in class results elsewhere. One of the common failings of benchmarking is that too often companies benchmark against their competitors. But trying to compare apples with apples can lead to a culture of blame and as a result - the wrong kind of management behaviour. To be successful, organisations should have a clear idea of their own critical success factors (for example, reduction in cycle time or excellent customer service). Benchmarking need not be amongst companies in the same industry. When I complain about a poor service experience, I am not only...
By Darryl Cooke Jack Welch, the former CEO of GE and once described as the greatest CEO in history, saw people as the ultimate answer to boosting productivity and taking an organisation to a higher level. He felt that there was no limit to what people can do and to what can be achieved. Or, as he described it, 'unlimited juice in the lemon'. Welch called this view of life 'stretch', which soon became a way of life at the company. No longer would the company set modest goals and celebrate mediocrity. Instead, the company would ask, 'How good can you be?'...

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