Generic Benchmarking

Introduction

The objective of our research study is to employ a team-based approach to identifying problem opportunity statements, effectively conduct generic benchmarking research, identify successful and unsuccessful generic benchmarking companies and recognize potential solutions to our problem opportunity statement and end-state goals. The design of the study includes peer-reviewed references, utilization of a generic benchmarking worksheet and application of the Global Communication's situation analysis. The team's approach to the research methods was to research the generic benchmarking information individually and incorporate our greatest findings into one manuscript. Furthermore, the team-based research approach will provide enhanced solutions from four different perspectives and allow us to be more successful in our research, generic benchmarking methodologies and solution identification for Global Communications.

Scenario Two

The telecommunication industry has experienced rapid growth and an accompanying huge investment in transmission capacity. This growth has put tremendous economic pressure on the telecommunications industry. In addition, the telecommunications industry has fallen under huge competitive pressures from cable companies who are now providing competitive services in areas such as telephones, computers and television. Global Communications is one telecommunications company that is dealing with reduced Wall Street confidence resulting in a 50% depreciation in its stock value. In an attempt to stem the downward pressure of its stock as well as to prevent possible financial failure, Global Communications is attempting to become a global provider of telecommunications. The senior leadership team at Global Communications has planned several steps that they want to implement to help the company to meet and exceed their goals. Some of these steps include introducing new services mainly to small business and consumer customers and cutting costs to improve the company's profitability. To make both of these plans work for the benefit of Global Communications, the senior leadership team plans to market the company on an international level. Therefore, Global Communications has several challenges and opportunities to ensure it remains a competitive player in the telecommunication's industry.

Problem Opportunity Statements and End-State goals

The issues identified within the Global Communications scenario can evolve into formulated problem opportunity statements. The team has framed the right problem statements to ensure we are identifying the right issues and opportunities. This will allow us to incorporate a structured and simple approach to solve the challenges, realize opportunities and address any ethical dilemmas. The problem statement for Global Communications is: Global Communications can realize growth and increased profit through the introduction of new consumer and small business services and an aggressive international marketing campaign.

Global communications must begin to determine their end-state goals. The organization must ensure the end-state is a result that can be achieved over a multiyear timeframe. During this entire process Global Communications must engage the key stakeholders to obtain their feedback, suggestions and alternatives. Global Communications end-state goals include: 1) Increase the stock price 200% in three years, 2) Become the largest provider of wireless communications in the United States by 2008, 3) Become the largest telecommunications provider in Australia and Ireland, 4) Become the highest quality provider of telecommunications technology by 2008 and 5) Become the most profitable telecommunications company by the end of 2009. The above goals are both aggressive, and measurable. During this entire process Global Communications must engage the key stakeholders (e.g., union, community, shareholders, employees, etc.) to obtain their feedback, suggestions and alternatives. Engaging the stakeholders will immediately address any ethical dilemmas that may arise and ensure a successful strategy. Furthermore, to ensure that the best methods are used to help the company excel, generic benchmarking techniques will be researched to assist the team in facilitating the best possible solution for Global Communications.

Generic Benchmarking

Generic benchmarking is employed as a tool used to shift the paradigm of industry. Benchmarking identifies potential solutions to the problem statement, encourages professionals, who may be experts in their field to look outside of their normal problem-solving areas of expertise. Specifically, benchmarking asks the problem solver to look at other industries where they may find unconventional yet very useful solutions to their issues.

There are four steps in the generic benchmarking model. These steps include, identifying problem opportunity statements, identifying research topics that will enable us to provide solutions, identify companies that were successful or unsuccessful in similar situations and summarize the team's key findings. Additionally, thorough research must be conducted to ensure a large sampling of companies is explored.

Topic Research

In order to thoroughly research several benchmarking opportunities, each team member conducted searches for peer-reviewed sources in the University of Phoenix library. The information in Table 1 provides a summary of the best topics that each team member researched, justification for each topic and the database source researched.

Table 1 Ð'- Task B1: Generic Benchmarking Topics

After researching the above topics from the University library, the team members choose to seek their information from the ProQuest database, the EBSCOhost database, and the Business Premier. The team decided to use these individual databases because of abundance of information that was found by researching each of the topics. Each database was easy to access, very user friendly and provided the peer-reviewed sources that was necessary for the completion of this paper.

The topic research that was conducted was done to identify companies that were faced with similar situations as Global Communications. The topic research provided information from companies in different industries that overcame issues that Global Communications is currently dealing with. Furthermore, by researching these topics the team was able to identify several companies that have successfully and unsuccessfully implemented these strategies.

Company Research

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