In laymans terms, benchmarking is a process of comparing the processes and action plans implemented in an institution with those implemented in other similar institutions with an intention of identifying areas the can be improved in order to progress the competitiveness of the…
The purpose of this paper is to examine how the process of benchmarking is important in financial decision making.
An online quantitative research study of Jackson Health Care title Nurses downtime 2011 survey elucidates various aspects of benchmarking. This survey offers information that can be used by other organizations for comparison. Factors for comparison outlined in this survey include time spent in indirect care, issues that affect bedside nurse, recommendations on how to increase time spent on patients bedsides, job satisfaction among nurses, and ways to improve job satisfaction. Jackson Health Care has implemented strategies to improve these areas between 2009 and 2011and hence offers a credible basis for comparison.
This article informed my understanding of benchmarking in that inequalities in relation to performance gaps are prevalent in healthcare and identifying these variances can help align processes in low performing institutions with those in organizations that perform highly. Subsequently, this article informed my understanding in that benchmarking can either be internal or external. External benchmarking is what is denoted as comparing the processes of an institution with another.
Benchmarking involves the creation of specific objectives that ought to be achieved in a healthcare organization to achieve high levels of performance. In my organization, benchmarking can be used to assess the existing strategies under implementation and as mentioned earlier, compare them with those in other similar organizations. During this process, financial data relating to other organizations are collected and analyzed. It is only through this process that what needs to be done to improve performance in terms of finances can be identified and achieved in my organization. As Baker and Baker (2014) points out, "Benchmarking is used for opportunity assessment" (p. 220). In other words, benchmarking can help my organization to identify opportunities and ...
Cite this document
(“The Process of Benchmarking Term Paper Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from https://studentshare.net/nursing/706218-the-process-of-benchmarking
(The Process of Benchmarking Term Paper Example | Topics and Well Written Essays - 500 Words)
“The Process of Benchmarking Term Paper Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.net/nursing/706218-the-process-of-benchmarking.
Decision making is a process which involves steps which include “recognition of the problem, decision’s objectives, information gathering with respect to the problem, evaluation of alternative courses of action, selecting the best alternative fitted to the decision and finally employing the solution and follow ups or feedbacks”
Under Statistical process control, a process acts unsurprisingly to create maximum compliant product as likely with the smallest amount of probable waste. While Statistical process control has been utilized most regularly to scheming production lines, it is uniformly relevant to any progression with a quantifiable output.
It is the responsibility of the human resource department to recruit such employees, who can prove to be productive for the company. Human resource department is considered one of the most important departments of a company because it is concerned with the employees who are the most valuable assets of a company because they make their company able to compete in the world of competition.
The main aim of the process flow analysis involves an evaluation of the source system procedure. It also considers the scheme of the company in handling the complexity, structure and fault elimination by plan, sub- scheme and organization etc. Shipper Manufacturing Company is a producer of the electrical goods, laminated materials and specialty goods.
Throughout the course we have undertaken our research using the following parameters, observation, predictions, experiments, data collection drawing conclusions. Observation is necessary in scientific research in order to formulate a hypothesis. It allows the scientists to firstly ask questions about a certain natural incident and observe this phenomenon (‘Introduction to the Scientific Method’, n.d).
Before this process, the human embryo is sexually indifferent, but with time, the gonad differentiates into either testis or an ovary. This essay seeks to analyzethe arguments brought forward by Swaab (2007) in his article concerning sexual differentiation of the brain and its effects on gender and sexual orientation.
13 Brand 13 Human Resource 14 Customer Loyalty 14 Innovation and Quality 14 Microsoft 15 Brand 15 Product Range 16 Research and Development 16 SWOT 17 Apple Inc. 17 Strengths 17 Weaknesses 17 Opportunities 17 Threats 18 Microsoft 18 Strengths 18 Weaknesses 19 Opportunities 19 Threats 19 Investor Potential 19 Employee Potential 20 Limitations 21 Conclusion 22 References 23 Appendix 25 Appendices 1: 25 Appendices 2: 25 Appendices 3: 26 Introduction This report uses all the benchmarking techniques in order to compare the two companies that belong to the same industry, almost have same market environment and target customers.
man resources and the nurse manager in terms of selection, the effectiveness of the current selection system, and how I would modify the process and why. Additionally, this paper mentions a recently filled position in my organization, describes the skills and background a
4 Pages(1000 words)Term Paper
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Term Paper on topic The Process of Benchmarking for FREE!