Unit 1, Understand the Management of Team Performance

1.1 Explain the use of benchmarks in managing performance

The use of Benchmark
Benchmark is used by companies to compare business process key metrics performances against other businesses in the industry. Quality, time and cost are typically measured dimensions. In the process of benchmarking managements will identify the best firm within their industry or another similar industry and them compare the targets of other firms and the business process that will explain why those firms were successful.

Internal Benchmarking- Comparing performances between various teams or groups within the organization

Eternal Benchmarking- Comparing performances with specific or across industries
There are three types of benchmarking:

Process benchmarking- firms focus on observation and investigation of the business processes with a target of observing and identifying the best practice from various firms, activity analyses will be necessary if the objective is to benchmark cost and efficiency.

Financial benchmarking- financial analysis and results comparing are needed to measure productivity and competitiveness.

Public Sector Benchmarking- work as an improvement and innovation tool were organizations will invest and use their resources in order to achieve quality and effectiveness of the service they provide.

Strategic Benchmarking- involves observing how the other industries compete.

Performance Benchmarking- it allows firms to compare services and products against other firms
Operational Benchmarking- involves everything from staffing, productivity to the analysis of procedures performance.

Newham Council is a public sector industry and the benchmark is based on Operational, performance, Financial were the central government will provide a set amount of money every year and the local government will have to use their resources to deliver service to the stakeholders.

As a manager your ability to amend or improve team performances will most...