Benchmark
Why development Is a benchmark essential?
HEC Junior Conseil is accustomed to helping companies set benchmarks to position themselves in relation to their competitors. A benchmark is a one-off study which consists in comparing a company' s positioning with that of competitors deemed to be performing well on strategic points such as operational performance, customer relations, marketing strategy, customer satisfaction or pricing.
At the end of a benchmark, it is essential to have a clear idea of performance gaps and their causes, so as to be able to define and implement measures aimed at achieving improvement. In this way, benchmarking helps to identify whether a performance gap between the customer's company and its competitors can be closed.
The final objective of the benchmark is to draw inspiration from the best practices of competitors in order to adapt them and integratethem into its own strategy. Its results are generally presented in the form of tables, graphs or matrices in order to visualise the differences in performance between your company and its competitors.
For example, HEC Junior Conseil recently carried out a benchmark for a European leader in energy transition. The company wanted to review the way they calculate their performance via, among other things, organic growth by comparing them to other companies in the sector. In this context, HEC Junior Conseil carried out a qualitative study about our client's competitors and then a benchmark with our strategic recommendations.
For more information and to find out everything about benchmarks, we invite you to read our article :
4 steps for your project
1. Preliminary research on the market and on the competitors targeted (or to be targeted)
From websites, social networks, specialised press sites or one of the 150 databases to which HEC Junior Conseil has access
2. Structuring the Benchmark according to the type of companies to be compared and the client's needs
3. Formatting the benchmark
4. Delivery of the final deliverable (in Powerpoint format) and strategic recommendations
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