Benchmarking, commonly known as learning from best practices, is an effective organizational performance tool that can boost a company’s performance, by enabling a learning experience that relies upon understanding best-in-class practices and implementing them within one’s own organizational structure.
Companies make large investments for their employees’ training, development and exert a great desire to retain top-performing employees.
The average senior manager spends up to 23 hours per week preparing, participating or following up on meetings. And still, an estimated 85% of executives are dissatisfied with the efficiency and effectiveness of organizational meetings, according to Steven G. Rogelberg. Employees spend approximately 6 hours a week attending meetings which they believe are a complete waste of time.
In 2019, the Performance Magazine editorial team interviewed Dr. Mark Powell, business writer, consultant & entrepreneur, and Jonathan Gifford, business author & speaker, on the topic of business innovation, specifically on how businesses could greatly improve by replicating the daring, yet highly successful model of performance arts.
Organizational structures have been defined as a pattern by which organizations can divide their activities and tasks, as well as control them, to achieve higher degrees of coordination.