Benchmarking: Global Communications
Global Communications is faced with a variety of problems in its efforts to become a global leader in the telecommunications industry. The company is under economic pressure and a few years prior their stock traded at $28 per share and is now valued at $11. Furthermore, the company needs to institute steps to introduce more services to satisfy local and long distance customers. Global Communications also has internal problems since it has decided to outsource jobs to reduce cost and increase profitability. The company has not communicated well with it employees or the union that they plan for employees to take pay cuts after having given up other benefits. This paper will look at strategies other companies applied in their response to similar problems. The companies discussed in this paper are different types of industries, but all have experienced similar problems and found solutions to those problems. The solutions to their problems can be implemented by Global Communications so that the company might accomplish goals and remain competitive in the industry. One of the practices that corporations use is generic benchmarking. "Generic Benchmarking performance measures are concerned with specific work processes that are virtually the same for all industries that use these processes. Generic benchmarking can easily identify those firms that have adopted innovative processes, thereby providing targets that can be more readily acceptable by members of the organization" (Davis et al, 2003.).
Analysis
Four of the companies benchmarked with Global Communications use an open method of organizational communication. Johnson and Johnson, General Motors, Lincoln Electric, and 1-800 Flowers have communicated issues to their employee ...