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Investigates the link between benchmarking and operational performance using a sample of over 600 European manufacturing sites. Benchmarking is linked to the identification and adoption of improved operational practices, an increased understanding of competitive positioning, and the larger context of the “learning organization”. Shows that benchmarking may indeed contribute to improved operational performance, first through improving the firm’s understanding of its competitive position and its strengths and weaknesses, and second through providing a systematic process for effecting change. Learning organizations were more likely to benchmark than other firms.

The economic contribution that small firms make is being increasingly recognised. Consequently robust strategic benchmarks for small firms must be extremely valuable not just for the firms themselves but also for the wider economic community. The Competitive Analysis Model (CAM) is a new approach to the strategic benchmarking of small firms. Currently this model comprises 893 firms on which are held 320 separate data items. These data items are used to provide individual firm reports so that participating firms can benchmark their performance in terms of measures such as: growth rates, internal performance measures, external performance measures and strategic priorities. The benchmarks are provided in two major manners: sectoral comparisons so that a firm can benchmark its performance with others of a similar size in the same industry sub‐sector and cross‐sectional comparisons so that a firm can benchmark its performance with others of similar size irrespective of the industry in which they operate. This article describes the operation of CAM and illustrates its operations through a typical CAM report.

To provide the basis for the development of a specific benchmarking methodology for the foundry industry.

The methodology was developed with the support of the Portuguese Foundry Association (APF). The project was structured in two stages: developing the model for the performance assessment (including performance indicators specially designed for the foundry companies); and conducting a pilot benchmarking exercise in order to validate the model. Both stages received the contribution of eight relevant national foundries.

Provides information about expectations of the benchmarking partners group. Make available a specific benchmarking model for assessing the foudries' performance based on critical factors. Provides foundry‐oriented indicators. Confirms that benchmarking is a time‐consuming tool, demanding continuous commitment of the top‐managers.

A limitation of the study is the number of benchmarking partners (eight foundries). The statistical analysis of the results based on this small sample was not practicable, preventing the definition of the presumed causal relations between improvement practices and performance outcomes.

The benchmarking model is now available at the APF. From now on, this institution can provide its members with a tool for promoting the co‐operation among companies and to enhance and enlarge significantly the available information about this sector. This activity will, certainly, help to improve organisations' performance, upgrading the competitiveness of the metalcasting industry in Portugal.

This paper helps the development of benchmarking in the metalcasting industry in which the number of published studies is very limited.

This paper demonstrates a multi-criteria analytic hierarchy process (AHP) framework for evaluating and benchmarking maintenance performance in the select agro-based industry.

Initially, 20 maintenance practices (criteria) have been identified after a detailed literature review and discussion with the agro-based industry (sugar, textile and dairy industry) executives. These are then grouped into six maintenance management areas referred to as group criteria. The multi-criteria methodology consists of three steps: criteria identification, hierarchical modeling and data collection and maintenance performance evaluation, and benchmarking. The multi-criteria methodology proposed in this work facilitates two ways of carrying out benchmarking: (1) within the agro-based industry and (2) between the agro-based industry. The methodology has been explained by taking a case example of 45 agro-based industries (18 dairy, 13 sugar and 14 textile) from the western region of India. The sensitivity analysis of the model has been performed to ascertain the robustness of the results.

There is a difference in the maintenance performance across the agro-based industries due to different maintenance practices perceived differently.

The outcome of the model is mainly given by the judgments of the agro-based industry executives. It is also sensitive to any change in the relative importance to the evaluation criteria or the perception about the maintenance performance.

The study contributes in identifying the weakness, if any, by comparing the agro-based industry under investigation with the benchmark factory at three levels, namely, overall performance (factory level), group criteria (maintenance management area level) and criteria (maintenance practice level) allowing further improvement.

The methodology assists in better decision-making and in improving maintenance performance.

Police agencies are under pressure to improve their performance and provide outstanding services for the community. In response, academics and practitioners have called to adopt effective methods that help these agencies to achieve their goals. Studies reported that benchmarking has a role to improve organisational performance. However, poor evidence of using benchmarking within police agencies and very few studies examine the relationship between it and police performance. Motivated by this gap, this study aims to explore and examine this relationship under the mediating role of innovation culture.

A quantitative methodology was utilised in this study. Data used to examine the hypotheses were obtained from the departments and stations of the Dubai Police Force (DPF), and the population comprised head section officers. A total of 338 questionnaires were distributed to respondents, 252 of which were returned. The hypothesised relationships were tested with the data collected by SPSS and SmartPLS statistical software.

Findings clearly show that benchmarking is directly and indirectly associated with the organisational performance of the DPF through innovation culture. Results support the notion that innovation culture facilitates the implementation of proper benchmarking projects in the DPF, which positively affects different aspects of its performance.

This study includes several limitations. Specifically, the generalisability of the findings should be considered. The analysis applies only to the DPF in the UAE. Thus, investigating and analysing variables in different police agencies in the UAE or internationally would be valuable.

Several recommendations are provided in relation to the obtained results to assist managers and decision makers in the DPF and other police agencies. This study includes suggestions for improving police performance by establishing an innovation culture and adopting benchmarking practices.

Although several contributions indicated that benchmarking and innovation culture is a key determinant of success, the literature lacks empirical studies investigating this link in the police field. This study is the only one to date that examined this relationship in police services. Accordingly, this study seeks to bridge this gap and delivers empirical evidence and theoretical insight to better understand this relationship.

We examine the use of relative performance evaluation (RPE), asymmetry in pay for skill/luck, and compensation benchmarking for a sample of firms involved in a spinoff. The spinoff affects firm characteristics that influence the use of the identified compensation practices. We test for differences in the compensation practices for the pre- and post-spinoff firms. We find that RPE is used for post-spinoff CEOs, but not pre-spinoff CEOs. Post-spinoff CEOs are also paid asymmetrically for luck where they are rewarded for good luck but not punished for bad luck. Both pre- and post-spinoff CEOs receive similar levels of compensation benchmarking. The study provides additional evidence on factors that influence compensation practices. Our spinoff sample allows us to examine how compensation practices are affected by changes in firm characteristics while keeping other determinants of compensation constant (i.e., the board and, in many cases, the CEO). Our findings contribute to the understanding of how the identified compensation practices are used.

This paper describes a benchmarking framework applied to medium-sized urban public bus agencies in the United States, which has overcome the challenges of data quality, comparability, and understanding.

The benchmarking methodology described in this paper is based on lessons learned through seven years of development of a fixed-route key performance indicator (KPI) system for the American Bus Benchmarking Group (ABBG). Founded in 2011, the ABBG is a group of public medium-sized urban bus agencies that compare performance and share best practices with peers throughout the United States. The methodology is adapted from the process used within international benchmarking groups facilitated by Imperial College and consists of four main elements: peer selection, KPI system development, processes to achieve high-quality data, and processes to understand relative performance and change.

The four main elements of the ABBG benchmarking methodology consist of 18 subelements, which when applied overcome three main benchmarking challenges: comparability, data quality, and understanding. While serving as examples for the methodology elements, the paper provides specific insights into service characteristics and performance among ABBG agencies.

The benchmarking approach described in this paper requires time and commitment and thus is most suitably applied to a concise group of agencies.

This methodology provides transit agencies, authorities, and benchmarking practitioners a framework for effective benchmarking. It will lead to high-quality comparable data and a strong understanding of the performance context to serve as a basis for organizational changes, whether for policy, planning, operations, stakeholder communication, or program development.

The methodology, while consistent with recommendations from literature, is unique in its scale, in-depth validation and analysis, and holistic and multidimensional approach.

Prior research has demonstrated that investment management performance fees have the characteristic of a call option. It is important to examine whether these performance fees are consistent with traditional fee structures used by investment managers. It is also worth examining whether clients or managers benefit significantly more than the other party under performance fee structures. The paper aims to discuss these issues.

The authors use Black-Scholes options pricing methodology to examine three cases of performance fee structures. The Absolute Hurdle case examines the fee structure where the manager receives a portion of the return over a pre-defined absolute rate of return. The Benchmark Relative Hurdle case shows a fee structure based on performance in excess of the return of a benchmark portfolio. The Breakeven Relative Hurdle case illustrates the fee structure where there is revenue neutrality with the classic management fees when portfolio performance matches the benchmark.

The findings of this paper illustrate that a particular performance fee structure can be designed to have the same revenue as a traditional investment management fee structure. Such a structure is equally beneficial to both the investment manager and to the client and should have salutary motivational effects to improve investment results, while simultaneously rewarding the manager for value added at a fair price for both the manager and the investor.

This study is unique in that it examines three cases of performance fees and provides a comparison between performance fee structures and traditional investment management fee structures. The findings will assist investment portfolio managers in better setting management fees they charge clients. In addition, this study help with clients who feel they are being charged excessive management fees by their investment manager.

Recently, benchmarking has become a common approach to optimize production processes by comparing certain aspects of a company with its competitors. However, one of the biggest challenges is not only to define suitable benchmarking topics and partners, to gather and statistically evaluate characteristic data, but to derive concrete measures to interpret the results, i.e. to overcome the revealed weaknesses. The purpose of this paper is to present an already implemented and successfully used functional benchmarking methodology for production performance of small and medium batch size processes, that is currently extended by using a knowledge base for reasoning strategies to semi‐automatically support the interpretation of the extracted statistical data.

A comprehensive approach is presented to develop a new model for the evaluation of a small to medium‐sized enterprise's production performance using an existing European database called BETT Benchmark.

The knowledge‐based concept enables sophisticated interpretation strategies to be used on an already existing base of real company data. The decisive point of the approach presented is to map production variables on room for improvement by taking varying parameters into account.

The proposed tool is a valuable tool that takes advantage of a statistically firmed analysis of a substantial database and combines it with the comprehensive expertise of experienced specialists in the field of performance assessment.

Environmental turbulence including rapid changes in technology and markets has resulted in the need for new approaches to performance measurement and benchmarking. There is a need for studies that attempt to measure and benchmark upstream, leading or developmental aspects of organizations. Therefore, the aim of this paper is twofold. The first is to conduct an in‐depth case analysis of lead performance measurement and benchmarking leading to the further development of a conceptual model derived from the extant literature and initial survey data. The second is to outline future research agendas that could further develop the framework and the subject area.

A multiple case analysis involving repeated in‐depth interviews with managers in organisational areas of upstream influence in the case organisations.

It was found that the effect of external drivers for lead performance measurement and benchmarking was mediated by organisational context factors such as level of progression in business improvement methods. Moreover, the legitimation of the business improvement methods used for this purpose, although typical, had been extended beyond their original purpose with the development of bespoke sets of lead measures.

Examples of methods and lead measures are given that can be used by organizations in developing a programme of lead performance measurement and benchmarking.

There is a paucity of in‐depth studies relating to the theory and practice of lead performance measurement and benchmarking in organisations.