Evolving Benchmarking – The GrowthFinder Diagnostic Approach

Firm-Level Benchmarking has been a core aspect of each of the Cluster programmes since their inceptions. This focus has primarily been on ensuring Operational Excellence within a manufacturing environment.

The pandemic has provided an opportunity for the Cluster facilitators and industry to pause and reflect on the previous Performance Benchmark methodology and approach, and to consider how it should evolve, especially within the current environment.

This reflection has resulted in an acknowledgement that while the essence of benchmarking and its focus on operational excellence must remain, increased emphasis on growth is required. This has led to the development of an evolved approach, termed GrowthFinder Diagnostic. It retains the core aspects of the previous methodology, but includes additional elements focused on ensuring an improved understanding of the growth for firms, as well as the systems and practices that are in place.

The growth aspects of the diagnostic will include an assessment of an industry’s growth drivers, as well as what the market is demanding and how firms are positioned relative to meeting the demands, including those of their customers. It will also consider the practices in place at firms to formulate and execute an effective growth strategy.

The competitive analysis will provide customer insights of performance and a review of operations, both in terms of performance levels and required supporting practices. The diagnostic will also consider environmental and social areas, as well as aspects associated with future manufacturing technologies and the adoption of Industry 4.0 practices.

The GrowthFinder Diagnostic programme will also include, if required, follow ups to evaluate progress against identified recommendation. The evolved approach will utilise online technologies and seek to engage with a broader spectrum of firm representatives. This is to ensure that participating firms are assisted to:

See what your market wants
See how you measure up to that and the competition
Close the gap
Grow your business profitably
We look forward to your involvement in the programme and deriving benefit for the GrowthFinder Diagnostic.