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Development Stimulation of Competitive Advantages of the Innovative Business through Benchmarking

Author

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  • Simonova, E. V.

    (Orel State University of Economics and Trade)

Abstract

The aim of the article is to identify the competitive advantages of small and big innovative businesses through the specific features of benchmarking. As a result of the study, the author identified key aspects for the selection of characteristic types of benchmarking for small and big innovative businesses, the process of periodization within the evolution of benchmarking generations is described, an author’s methodology for benchmarking models constructing for small and big innovative businesses in the context of increasing competitiveness of these economic entities is presented, this approach is based on the system approach to the management model. The author points that the constructed benchmarking system models in the context of increasing competitiveness of business entities on the basis of principles, processes and stages make it possible to determine the competitive position of an innovative company in the market using innovative proposals and best business practices. Also the author proposes to analyse the typology of benchmarking based on the priority of the development of small and big innovative businesses. In accordance with this, the key types of benchmarking for small innovative businesses include internal production, external competition, collective and individual. The author’s toolkit will allow identifying gaps in communication interaction with a focus on stimulating the development of competitive advantages of an innovative business through benchmarking.

Suggested Citation

  • Simonova, E. V., 2020. "Development Stimulation of Competitive Advantages of the Innovative Business through Benchmarking," Journal of Modern Competition, Synergy University, vol. 14(4), pages 54-67.
    • Handle: RePEc:snr:mdrcmp:v:14:y:2020:i:4:p:54-67
    DOI: 10.37791/1993-7598-2020-14-4-54-67
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    File URL: https://www.moderncompetition.ru/jour/article/view/913
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