Twenty‐first century benchmarking: searching for the next generation

Purpose The purpose of this descriptive research article is to investigate current benchmarking practices (2001 to 2010) so as to determine new approaches which may transcend the traditional benchmarking model developed by Watson. Design/methodology/approach Previous generations of benchmarking have been developed and utilized in the last century. Watson's generational benchmarking model predicted that global benchmarking would encompass future benchmarking. Watson's Strategic Benchmarking: Reloaded with Six Sigma links Six Sigma strategies with strategic planning and benchmarking. Findings Most articles and dissertations reviewed indicate usage of existing benchmarking practices. The research also uncovered complementary approaches, including the Boyd Cycle, which underscores flexibility and speed, Six Sigma tools to implement significant business change decisions, the insights of Hoshin Kanri's philosophy of management, which fosters communication such that everyone in an organization is working toward a common goal, and “rapidmarking” of business improvements. Practical implications These approaches, while complementary, do not represent a “new generation” of benchmarking. Originality/value The value of this article comes from making the connection between the very beginnings of benchmarking techniques and the latest techniques in use today.