A model for stakeholder-oriented benchmarking process

Abstract

Despite the strategic orientation of most benchmarking processes in the past researches, this study provides a new approach to benchmarking in accordance with nowadays stakeholder-oriented business climate which stresses on performance improvements that benefit all stakeholder groups. So the purpose of this study is to propose a benchmarking process model addressing the key role of stakeholders in managing and measuring organization's performance. This model presents a stakeholder-oriented view to performance improvement through benchmarking tool using value based concepts. Based on reviewing the literature, an exploratory approach is used to design the process model of benchmarking and it is supported and tested through a case application in an Iranian business school. The presented model which includes 10 steps was successfully implemented in improving the value drivers of selected case. Hence it seems that the model can be of use to various industries and businesses to improve their value creation capabilities. On this basis, future researches should be focused on more case studies from various industries and businesses and more perfect realization of stakeholder orientation claims of suggested approach. © 2009 Asian Network for Scientific Information.