CLASSIFICATION OF BENCHMARKING TYPES IN THE MANAGEMENT OF BANKS
Journal Title: Економіка розвитку - Year 2014, Vol 71, Issue 3
Abstract
The definition of benchmarking is clarified based on banking specifics. Bench-marking is considered as a process of comparing a product (a service) and business processes of a bank with products (services) and business processes of leading banks, best lenders, partners in order to borrow best practices in various areas and their adaptation with a view to gaining competitive advantage in the banking market. In order to improve the procedure of applying benchmarking to the activities of banks, the basic classification features were systematized and identified and peculiarities of application of benchmarking types were justified. This approach is proved to enable the manage-ment of banks to deliberately apply the methodology of studying and implementing ad-vanced practices of competitors, partners and other organizations, and will contribute to innovative development of credit institutions.The definition of benchmarking is clarified based on banking specifics. Bench-marking is considered as a process of comparing a product (a service) and business processes of a bank with products (services) and business processes of leading banks, best lenders, partners in order to borrow best practices in various areas and their adaptation with a view to gaining competitive advantage in the banking market. In order to improve the procedure of applying benchmarking to the activities of banks, the basic classification features were systematized and identified and peculiarities of application of benchmarking types were justified. This approach is proved to enable the manage-ment of banks to deliberately apply the methodology of studying and implementing ad-vanced practices of competitors, partners and other organizations, and will contribute to innovative development of credit institutions.
Authors and Affiliations
O. Bykhova
Keywords
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