The Importance of Benchmarking for the Management of the Firm: Evaluating the Relation between Total Quality Management and Benchmarking

Abstract

At present time, there has been a great change in technology due to the rapid development of technology, changing of economic conditions and the removal of borders in trade. With this change, the importance of knowledge has increased. In order to survive in the market and to ensure customer satisfaction, companies started to develop various methods. Benchmarking is one of the methods developed as a result of efforts to change and to be permanent in the market. Organizations need to be outward-oriented in order to identify the need for change and to provide a mechanism for change. Nowadays, obtaining information, accessing and learning information is more important than storing information, and benchmarking has been an important policy for the business management and supply chain of the company. This method enables companies to strengthen their weaknesses, to evaluate opportunities in the best way, to be customer oriented and to survive in a competitive environment within the corporate culture. In the scope of the study, the basic concepts of benchmarking and total quality management dual strategy, and the roadmap to be successful in this process are included. Sample sections-examples and information are given about how companies will apply the benchmarking method and which steps they should follow when making comparisons-benchmarking. © 2019 The Authors. Published by Elsevier B.V.