Best in Class Definition and Explanation PDF | Download eBooks
Learn Best in Class definition in total quality management with explanation to study “What is Best in Class”. Study best in class explanation with TQM terms to review total quality management course for online MBA programs.
Best in Class Definition:
Benchmarks who exhibit performance that is better than competitors are called best in class.
Managing Quality: Integrating the Supply Chain by S. Thomas Foster
Best in Class Explanation:
In benchmarking practices, an organization compares its operations with another firm which is called target firm. The target firm should be the one that is best in class i.e. showing best performance in that particular industry. Best in class organization is set as a standard while performing benchmarking. Best in class organization shows high level performance in different areas e.g. financial condition, high quality products/services, quality processes, quality strategies, and overall performance. Best in class firm is superior to other firms of the same industry. Best in class is also called best breed. For example, if a firm wants to compare its performance based on a specific metric with another firm, it must look for the best in class organization regarding that particular metric or performance measure.
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