Magazine article Management Services

Class 'A' Firms Significantly Outperform Competitors Says European Survey

Magazine article Management Services

Class 'A' Firms Significantly Outperform Competitors Says European Survey

Article excerpt

While many European companies in the last five years have achieved significant results from various improvement initiatives, the real improvement gains have been achieved by Class 'A' companies who have benchmarked their fundamental business processes against Global Best Practice. They significantly outperformed their competitors with some outstanding performance metrics.

A major survey by leading London-based research company, Benchmark, revealed that 90 percent of Class 'A' companies reported substantial benefits in key areas, well ahead of their competitors. "This shows a significant gap opening up in the manufacturing sector," comments Guy Washer managing director of Benchmark. "What is also significant is the performance of the UK Class 'A' companies in that time period against all the other companies in this European-wide survey.

"The survey clearly showed that Class 'A' companies had outperformed their European-wide competitors," continued Washer. "In customer service the margin was 30 percent; costs 24 percent; and inventory performance a staggering 77 percent."

Commissioned by business education consultants Oliver Wight, the survey also found that the advantages could be further enhanced if the UK could improve the people side of the business.

Perhaps the most interesting findings are the cultural and behavioural differences. Whilst many companies in Europe are spending very large amounts of money on information technology to gain competitive advantage (1997 spend of 3. …

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