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BENCHMARKING In Videocon Telecom - Kritika Kuma

Benchmarking in Videocon Telecom

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Page 1: Benchmarking in Videocon Telecom

BENCHMARKING In Videocon Telecom

- Kritika Kumar

Page 2: Benchmarking in Videocon Telecom

Meaning of Benchmarking Benchmarking is a systematic process of improvement

followed by companies to improve their processes, products or services by comparing themselves to their toughest competitors and perceived market leaders

It is the company-to-company comparison of how basic processes are performed

Goal is to recognize the weaknesses within the company by comparing to the market leaders (setting a benchmark) and improve upon them

Follows the ideology of becoming ‘best of the best’

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Some Different Types of Benchmarking

Best Practices/ Industry Benchmarking : The companies choose to look at the industry leaders that they aspire to be like. By comparing themselves to companies that are doing the best, they can identify the best practices and improve themselves

Peer Benchmarking : Comparing to other businesses very similar to themselves (competitors) to make sure they are staying competitive

SWOT or Internal Benchmarking : This is a sort of internal assessment where the company looks at its own Strengths, Weaknesses, Opportunities and Threats to set benchmarks and improve.

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Benchmarking and Videocon Telecom

Telecom being a highly competitive sector, makes use of benchmarking to stay in the business

Videocon Telecom, for example, is using this strategy to improve its position in the market by comparing and learning from practices of other telecom giants

That is why we see a plan being introduced by one telecom company and immediately after that the other companies follow

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Benchmarking Steps in Videocon Telecom

Videocon carries out a mix of both external and internal benchmarking

Step 1 : Determines the processes/areas to be benchmarked and how much change is possible. Eg. Spectrum usage, call rates, data plans etc.

Step 2 : Determine organizations to be benchmarked

Step 3 : Gathering Data – Relevant data collection through methodology determined in planning phase to compare its own processes with the best companies

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Benchmarking Steps in Videocon Telecom

Step 4 : Analysis : After the data collection is done, the company uses statistical techniques to come to analyze data and jot down the findings

Step 5 : Recommendations : After data analysis recommendations of areas where the company can improve is developed

Step 6 : Implementation : After going through recommendations, the company implements the ones that are feasable

Step 7 : Recalibrate Benchmarks : Continual evaluation of the benchmarked practices and reinstituting the benchmarking process when necessary

Thereafter, successful elements of the new practices can be retained and the less successful ones eliminated

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Functions in Videocon Telecom that are usually Benchmarked

Products and Services : Call rates, Data plans, Local and STD schemes, combo plans etc.

Working Processes : Managing orders and supplies, maintenance

Managing HRD, Financial functions, Marketing strategies, differentiation

Organization Performance : Cost, manpower, sales, profitability

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