Functional Benchmarking Notes: Definitions & Explanations PDF | Download eBooks

Study Functional Benchmarking lecture notes PDF with total quality management definitions and explanation to study What is Functional Benchmarking?. Study functional benchmarking explanation with TQM terms to review total quality management course for online MBA programs.

Functional Benchmarking Notes:

While performing functional benchmarking, the initiator firm focuses on a single function of the operations and compare its results of that particular function with the results of the target firm. Functional benchmarking not only allows to compare performance but also enables to focus on the practices of a better firm with the thought of adopting them. For example, a bank compares the time taken by its employees to process invoices with another bank whose reputation in this area is better among the customers. The initiator firm not only compares the time difference but also considers the ways by which the target firm achieves success in taking less time to perform the task. As only a single function is focused on, so functional benchmarking is performed.

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