A Model for Streamlining Benchmarking in Sustainable Development of Industries

Abstract

Benchmarking is a process of improving organizational performance by recognizing, comprehending, adjusting, and incorporating the most effective practices and procedures observed either within or outside an organization. Benchmarking creates, primarily in industrial sectors, clearly identified opportunities for the use of processes and resources, and detecting the continuous improvement of their performance. From the point of view of a systemic approach to the management of the efficiency of the performance of industrial organizations based on benchmarking, it is possible to increase competitiveness in interaction with economic improvements. The objective of this study is to assess the potential of benchmarking in a business, with a particular focus on the economic aspect, by a systematic approach, and to propose a model for selecting the research segment, based on an international company operating across multiple countries worldwide. The study concentrates on the technical equipment of quarries in EU countries, where the company operates, employing benchmarking, a benchmark index, and statistical methods. The proposed model was designed in an open way that can be expanded and generalized for other manufacturing and non-manufacturing enterprises. The model is flexible and adaptable to the specifics of other sectors as regards the need to improve management with an emphasis on making management more efficient, and thereby supporting sustainable development.