Benchmarking in the Strategic Management of the Enterprise’s Innovative Development

Abstract

The main aim of the research is to systematize the basics of benchmarking to introduce it as an instrument at enterprises, as well as to identify the role of benchmarking in the strategic management of innovative development and competitiveness of enterprise. The historical prerequisites for the formation of modern benchmarking are considered. The purpose of benchmarking, its theoretical and methodological aspects are analyzed. The structural characteristics of benchmarking and the stages of its implementation are researched and systematized. It is noted that one of the promising methods of obtaining information in innovative development is benchmarking. It is emphasized that with the use of benchmarking can be revealed what position an enterprise takes in a certain area and how this position is won. The forms of benchmarking, which are most often manifested in practice, are studied and their characteristics are presented. The advantages and disadvantages of implementing the instrument of benchmarking at the enterprise are compared. Conclusions are formulated that emphasize that benchmarking of the enterprise allows to understand how well each aspect of the business works, and to identify which spheres need improvement. This process involves analyzing specific indicators and tracking the indicators related to long-term goals. Benchmarking allows businesses to measure progress and make strategic changes. The importance of benchmarking in the strategic management of the enterprise’s innovative development is also underlined. It is stressed that in a highly competitive environment it is necessary not only to have in hand modern instruments of innovative development, such as benchmarking, but also be able to constantly improve these instruments.

Keywords

• benchmarking
• competition
• competitiveness
• strategic management
• innovative development