Judgmental Modelling as a Benchmarking Tool: A Case Study in the Chemical Industry
Throughout the world industries are facing increasing threats from a variety of forces such as globalisation, technological changes, and deregulation. One consequence of these changes has been the radical restructuring of organisations to be more responsive to market requirements, coupled with continual benchmarking against best-in-class competitors to ensure that companies retain a competitive position. Despite the recognition of the need for benchmarking, there is no consensus on the best approach. This paper shows how judgmental modelling can be used as a benchmarking tool to analyse both market requirements and competitive positioning. The information is based on 112 personal interviews carried out in a sector of the chemical industry across Europe. The results clearly indicate how the judgmental modelling approach can be used to generate meaningful insights in this complex area.
KeywordsCompetitive Benchmarking Judgmental Modelling
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