BENCHMARKING CONCEPT OF SMALL SIZED CONSTRUCTION COMPANY
Abstract
Increasing competition on a global market forces enterprises to increase the efficiency of internal processes in order to retain competitiveness. Performance measurement is becoming one of the main strategic factors of business success, and can be performed also within the frame of benchmarking initiative. The aim of this paper is to draw up the benchmarking concept of small sized construction company, and verify its application on the case study. For this reason it was necessary to identify the set of performance indicators that can be measured and evaluated. It has been found out that firm size is limiting factor for application of benchmarking in the company, as well as unavailability of all necessary data. However, it was concluded that even a limited form of benchmarking provides a valuable information to the company management relevant to strategic decision making ensuring effective firm’s management, and long term financial stability.
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