Strategy Formulation through Benchmarking and Economic Ranking-An analysis on Selected Companies of Indian Cement Industry

Evaluation of performances for any organisation is a key element to set a strategic goal. Benchmarking is considered as one of the strategic performance tools for evaluation. Conducting self-performance evaluation, making a comparison with the top performer, focusing on differences and finally putting a sincere effort to excel the benchmarking philosophy. The growth of any industry or sector is depended on the better performance of individual firms that can be identified through benchmarking. The present paper tried to identify the individual performance of cement industries and present their performance from different angles and rank them through various economic ranges. This analysis will make them to know their actual level of performance by comparing with all leading cement companies. Addition to it for the development of the industry few suggestions is given to the market player of Indian cement industry that will help for the formulation of strategy which in turn excel the total industry in future.