Global Dimensions Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Solution No.1

Benchmarking

It is the procedureof comparing business performance of the other business which is performing tremendously well in the industry. It is the best tool to raise the performance standard and quality to compete in the market. As far as dimensions in this process are concerned, it includes cost, time and quality elements to consider. The firm, which decides to practice benchmarking practices, recognizesthe top firm in the industry to compare themselves in order to increase the efficiency. This process will set the direction and long-term strategy for the companyand provides a great platform to the entire organization.The objective of the process is to measure the actual performance and how it will increase in the future (Fifer, 1989).

Benchmarking is also referred as “Best Practice Benchmarking” or “Process Benchmarking.”This process is coming under the area of management in particularly strategic management, in which firms assess several features of the organizational methods and processes against companies having best practices in the industry. Successful implementation of benchmarking best practices facilitates the organization and contributes significantly in order to develop and future plans and strategies to strengthen the performance standards. It is basically a continuous process of improvement and may be adopted time froma time when needed by the organization. Benchmarking also makes the firm cost effective, if implemented efficiently (Bogan, 1994).

Advantages and Practices of Benchmarking

There are various advantages of benchmarking for any firm who wants to gain competitive advantage in the industry. It is up to the firm how efficiently they identify the firm to match the standards. If they identify the right firm and industry for benchmarking, then there is no doubt it will increase the performance standards of it.Several companies adopt benchmarking practices to achieve success and overcome the shortcomings.To take the full advantage fromit,there should be a proper identification of need and problem;industry top competitors should also be recognized efficiently. Some of the benefits of the benchmarking process are as follows:

Decreases Labor Cost
Enhance Product Quality
Strengthen sales and revenue
Performance Improvement
Bring Change

Decreases Labor Cost

One of the advantages of benchmarking process is a decrease in the labor cost. For instance, a manufacturing company may identify the cheap equipment and material for the manufacturing process by analyzing top competitor in the industry.

Enhance Product Quality

When the firms compete from the top competitor in the industry, it always increases the product quality for the firm. A R&D department of the firm usually analyzes the best competitor’s product by purchasing it. Afterwards, they adopt the quality standards in their products to strengthen the customer base.

Strengthen sales and revenue

Benchmarking process always contributes in sales and revenue of the organization. Because of the process, firms better understand the needs and demands of the customers, and it causes a significant increase in sales and revenue.

Performance Improvement

The performance of all the departments improves when firm implements benchmarking practices. This may be achieved by applying internal benchmarking;the best department of the firm performs tremendously well compared with other departments within the organization. Benchmarking tells which departments are not following the practices of benchmarking(Camp, 1989).

Bring Change

Process of benchmarking bring changes in the organization, because the company is comparing their standards with the top firms in the industry. It also provides new ideas and ways to the company for strategy implementation. It also increases the knowledge and promote learning within the organization.

Solution No.2

Businessmen always intendto achieve a significant amount of profit because theyinvest a lot in the business. While doing business, whether at domestic level or global, company needs an investor to expand the business. There are several ways for afirm to find the right investor in the business. Government policies and procedures are also important factors to consider for both the company and the investor. When the government encourages local investors to invest in the businesses, they usually enjoybenefits in the long run.Companies are always willing to earn more profit, but when the companies are restricted by the governments, companies have to design their policies accordingly. When the local investors do not provide the sufficient amount of funding and investment that needed for the company, quality standards of the firm’s badly affected by it. Some of the suggestions for the companies to attract the government to promote foreign investment are:

Foreign investor's contribution to GDP
Strengthen the country’s labor force
Industrialization in the Country
Increases the Competition

Foreign Investor Contribution to GDP

When the government promotes or encourages the local investor, it is sometimes difficult for the firms do the business.Companies have to ensure the government that the foreign investment directly contributes in the country’s GDP significantly. It will create a positive impact on the country’s development and growth in the long run ...............

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