By Peter Bogetoft
"In this ebook, Peter Bogetoft - THE professional at the idea and perform of benchmarking - presents an in–depth but very obtainable and readable rationalization of easy methods to do benchmarking, ranging from the floor up."
William S. Beinecke Professor of Accounting, Yale tuition of Management
CFO, reimbursement Valuation, Inc.
"I hugely suggest this well-written and entire e-book on measuring and dealing with functionality. Dr. Bogetoft summarizes the basic mathematical innovations in a sublime, intuitive, and comprehensible way."
Jon A. Chilingerian
Professor, Brandeis collage and INSEAD
"Bogetoft provides in his booklet functionality Benchmarking a good advent to the methodological foundation of benchmarking."
Director, DONG Energy
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Business functionality supervisor, Maersk Oil
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Director, Dutch overall healthiness Care Authority
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Stig P. Christensen
Senior R&D Director, COWI
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Additional info for Performance Benchmarking: Measuring and Managing Performance
G. a cost reduction strategy or a service expansion strategy. Similar applications have also been developed to support individual learning in several other industries, including the energy, the financial, the educational, and the health sectors. 2 Coordination In some studies, the objectives of the benchmarking process explicitly address the allocation of tasks and possibly the restructuring of firms or the industry. e. ensure that the right firms are producing the right products at the right time and place.
10 Bibliographic Notes 21 The idea of measuring efficiency by focusing on proportional reductions in inputs or proportional expansions of outputs is traditionally attributed to Farrell (1957). Since they were first introduced some 30 years ago, the DEA and SFA methods have become extremely popular, and several thousand papers have been produced that extend and apply these methods. For a textbook introduction to DEA, see Charnes et al. (1995) or Cooper et al. (2007). A popular introduction to both DEA and SFA is Coelli et al.
2 2 .. .... ... 1 1 .... ... 3 3 ... ... ... ... ... ... ........................................................................................................................................... (x , y ) • (x , y ) • Fig. 2 Dominance and efficiency (x , y ) • x 26 2 Performance Measures fully efficient one. Put differently, it is not enough to be on the frontier, it is also important to be at the right part of the frontier. We can express this more popularly by saying that it is not sufficient to run fast; it is also important to run in the correct direction—and it may be better to run at a moderate speed in the right direction than at full speed off-course.