The central idea behind the relativity theory (Vision of Galileo Galilei) is that the laws of mechanics and physics in general, are not allowed to be dependent on the speed of the observer in relationship to other observers. But what if we could give one of these observers a method that he or she could look forward in time to benchmark / scale this dependency ? This theory, method and my thoughts i put in relation towards the topic “Benchmarking”.
I think of a method from where an organization will not be observed by two or more observers with the same speed or historical knowledge, but a person who is able to look forward to see which dependencies are occurring in the future.
Today, within the field of traditional benchmarking there are a lot of organizations and people who perform benchmarks and base their research on historical data. I prefer to use a method that’s not only looking to the dimension market value in relation to competition, but also places this into the dimension time. What you will get is a 3D model where an organization is positioned together with its peers in relation to the dimension time and follows a natural path into the future (coming 5 years).
With this method you will be able to get a viewpoint of performance in the current time and the future. Combine this knowledge to develop a strategy to get besides, pass or stay in front of the competitors.
How could this method work ?
You will need a person or company which can make these future dependencies and developments visible, by using knowledge and experience of: innovative solutions, market developments, trends, macro and micro economics, laws, political influences and sector knowledge.
This knowledge gives you the possibility to take strategic decisions based on the knowledge of tomorrow. Is it really so strange to think about your market portfolio for the upcoming 5 years and how much the market is willing to pay for that item or service ?
Today a lot of organizations are still learning from their historical experience and take sometimes a look into the kitchen of the competition with a benchmark study.
The knowledge which is used to write these benchmark reports is already dated the moment that the report is being written as the competition is not on hold! These reports are always based on historical facts and figures. What you need is a company having people with the right knowledge in your area of business in combination with this method, showing you where the competition is at within 2 to 5 years. Then you will be able to create or adjust your management strategy in a way that you will not follow, stay in line or lack behind the competition but bypass them in time.