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Competitive studies are conducted in the automotive industry mainly for design features and functionality. Automotive manufacturers always seek to fulfill customer needs and exceed their expectations through product offers that would overtake the ones already available in the market.
Nowadays, many benchmarking best practice examples come from the highly competitive and innovative airline industry. According to Jackie Fry, Ian Humphreys and Graham Francis (2005), benchmarking is considered to be the most commonly used performance tool for increasing performance both for airline companies and airports worldwide.
All businesses are in a continuous search for processes and quality improvements that will eventually lead them to achieving a superior level of performance in their activity.
Spas were initially an area of service provided by expensive hotels, but they have now separated into independent businesses, growing into an entire industry. Companies in this field are aware of the benefits of performance management and they have implemented Key Performance Indicators (KPIs) to measure their results and achieve their goals.
Is having the best management tools the key to success? Analyzing the most used management tools by companies gives an insight into what really matters in today’s business world.
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