A Study on Benchmarking Models and Frameworks in Industrial SMEs: Challenges and Issues

Abstract

This paper is based on a literature review of recent publications in the field of benchmarking methodology implemented in small and medium enterprises with regards to measure and benchmark upstream, leading or developmental aspects of organizations. Benchmarking has been recognized as an essential tool for continuous improvement and competitiveness. It can also help SMEs to improve their operational and financial performances. However, only few entrepreneurs turn to benchmarking implementation, due to lack of time and resources. In this study current benchmarking models (2005 onwards), dedicated specifically to the SMEs, have been identified and their characteristics and objectives have been discussed. Key findings from this review confirm that this is an under-developed area of research and that most practitioner approaches are focused on benchmarking practices within SMEs. There is a need to extend theoretical and practical aspects of benchmarking in SMEs by studying the process of benchmarking with regards to the novel concept of lead benchmarking as a possible means of achieving increased radical and innovative transformation in organizational change. From the review it emerged that, lead, forward looking and predictive benchmarking have not been considered in SMEs, and future researches could include them.