BENCHMARKING & ECONOMIC RANKING - INDIAN TYRE INDUSTRY

Benchmarking is one of the strategic performance evaluation tools for assessing one's own performance, making a comparison with the best level of performance, identifying the deficiencies and finally making concerted effort to improve and excel is the philosophy of benchmarking. Essentially, benchmarking brings the overall growth of an industry through the performance improvement of individual players. The present research focuses to examine the performance of individual companies in Indian Tyre Industry with performance indicators i.e. sales, net profits and market capitalisation taken into consideration. Economic ranking are done basing on performances of all these firms and explores the untapped area of improvement through Benchmarking. In conclusion the companies in the tyre industry can improve their specific performance by using strategic performance management tools.