Publication: Areas for Benchmarking among SMEs
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Date
2013
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Trade, Economics and Finance (IJTEF)
Abstract
Job creation, economic growth and innovation are
partial of the achievement for SMEson the well-being of the
economy for a particular country and society. Due to the
reasons, there are lots of benchmarking activities conducted by
government and private bodies through events that promote
exposures for the SMEs in enhancing its capabilities. Thus, this
paper aims to identify the areas within benchmarking activities
that are implemented by local SMEs. Semi-structured
interviews were conducted among 35 SMEs that were willing to
participate voluntarily. This study found that management is
the best driver of benchmarking adoption. Possibly, the
closeness of relationship between management, suppliers and
customers enhances support for benchmarking in the
enterprises. It also revealed that SMEs benchmarked in only
one specific area or in all aspects such as production (32.6%),
operations management (17.0%), marketing (16.0%),
information and communication technology (ICT) application
(16.8%), financial (10.0%), and management (7.0%). Although
the results should be taken with caution, nevertheless
benchmarking is vital in facing new challenges and
opportunities for success in productivity and profitability.
Description
Volume: 4 No: 5 (page: 270-273)
Keywords
Benchmarking, business, management, small and medium enterprises.
Citation
Ab. Wahab and Syarizal Abdul Rahim, "Areas for Benchmarking among SMEs," International Journal of Trade, Economics and Finance vol.4, no.5, pp. 270-273, 2013.