Dudnieva Iuliia, PhD of Economics, Associate Professor, Associate Professor of the Department of Economics and Management, V. N. Karazin Kharkiv National University, Kharkiv, Ukraine

ORCID ID: 0000-0002-4786-7213
e-mail: j_dudneva@ukr.net

Obydiennova Tetiana, PhD of Economics, Associate Professor, Associate Professor of the Department of Economics and Management, V. N. Karazin Kharkiv National University, Kharkiv, Ukraine

ORCID ID: 0000-0002-5548-3906
e-mail: obyd_ts@ukr.net

Vasylieva Mariia, Senior Lecturer of the Department of Economics and Management, V. N. Karazin Kharkiv National University, Kharkiv, Ukraine

ORCID ID: 0000-0001-9119-2746
e-mail: maria.vasylieva@karazin.ua

Benchmarking as a Means of Increasing the Competitiveness of an Organization

Abstract. Introduction. The article considers theoretical and practical aspects of applying benchmarking principles to optimize the activities of business structures aimed at increasing the economic efficiency of their work. 

Purpose. The article emphasizes that benchmarking can be adapted to the needs of both large and small companies due to its flexibility and the possibility of using it in conditions of different resource base. The article also emphasizes the importance of benchmarking as a universal strategic management tool that allows companies to adapt the best practices of world leaders in their industries. 

Results. Based on the analysis of modern scientific sources, current approaches to the definition of the concept of “benchmarking” are summarized, emphasizing its role in achieving positive changes in the functioning of enterprises. Special attention is paid not only to the increase of efficiency, but also to the strengthening of competitive advantages, which is of crucial importance in the conditions of fierce market competition. A clear sequence of stages for the implementation of benchmarking is proposed, its main types are described in detail, and the advantages and disadvantages of each of them are analyzed. The necessity of systematic approach and thorough preparation at each stage of benchmarking implementation is emphasized. The strategic potential of benchmarking in creating an innovative environment in the company, which contributes not only to operational improvements, but also to long-term development, is highlighted. The article analyzes the risks associated with the implementation of benchmarking.

Conclusions. The results obtained contribute to the understanding of how benchmarking can be used as a strategic management tool to achieve sustainable development and strengthen the position of enterprises in the market. The article concludes that the use of benchmarking is an important tool for increasing the efficiency, competitiveness and adaptability of enterprises to dynamic market conditions, and its potential can be realized with a competent approach to its implementation.

Keywords: performance; benchmarking; optimization; competitive advantages; effective management; competitiveness; strategy.

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