These assessments when used in combination create a common leadership language and a powerful feedback forum for all of the levels throughout an organization. The analysis and development resulting from these assessments will produce meaningful data and best practices that will enable CHSB to share research findings with leaders around the Caribbean confidently and affordably. To facilitate this feedback and development, the Cave Hill School of Business intends to create a benchmarking consortium.
Benchmarking is “A process in which companies target key improvement areas within their firms, identify and study best practices by others in these areas, and implement new processes and systems to enhance their own productivity and quality” (ILO). In order to create a benchmarking consortium, organizations in the Caribbean have to create a co-operative environment where full understanding of the enablers of best practice in business processes can be obtained and shared at a reasonable cost. CHSB supports the use of benchmarking to facilitate leadership development and to facilitate case studies.
The creation of a benchmarking consortium by the Cave Hill School of Business will be an invaluable asset to the regional business community.