Best Practice, Best Fit and Resource View of the firms analysis for Essay

Best Practice, Best Fit and Resource View of the firms analysis for relevance - Essay Example But these new concepts definitely did one thing, forced the organizations to focus on a neglected area. Similar is the case with "Best Practice", "Best Fit" and "Resource View of the Firms". The three concepts led to awakening which provided insights into organizations themselves on practices, organizational variables and the organizational resources respectively. Best Practice term arrived in the 1990s when the entire world of organizations were in a flux, the world became unipolar and the resources deployed hitherto for anticipated war between two poles of the world were suddenly available for better use, for business and the core of business is essentially the needs, desires of human beings and the ability to fulfill them. The geographical boundaries had suddenly collapsed and the resulting globalization created aggregation of these needs, desires and the abilities to fulfill them, unleashing a state of huge threats and huge opportunities. A plethora of business concepts arrived on the scene, quickly delivered by ICT elements across a wider spectrum of organizations. Best Practice concept was one of them. The search of reasons or factors behind a superlative performance led to a process-by-process analysis and its comparison with the more successful companies. Best practice is essentially kno... It is a quest for improvement through the use of experience behind creating a better practice by others. The comparison could be either through unstructured or structured mechanisms, documents, interactions. Benchmarking encompasses best practices and best practice results are the starting point in improvement through benchmarking partnerships. Normally two organizations enter into benchmarking partnerships and try to transfer the best practices from one context to another. It starts with regular comparison of performance measures in identified areas and when it is found that performance of some parameters is quite high, a detailed analysis is carried out to find out how it is done and what is the practice being adopted to achieve that superior result. Now the key is to understand and implement that practice, leading to closer people to people interactions, depending on the understanding and enthusiasm of the implementing organization. Another approach seen regarding best practice is industry or sector specific associations engaged in sharing and exchanging of data, experiences in seminars or workshops to facilitate the growth of the industry itself through capture of best practice and disseminating the same. The approach has definitely helped organizations to see the organizational activities in terms of a set of practices and look the process-wise comparison with others. The practice of comparison came down to the level of practices. Best Practice Blues There have been significant activities in the efforts to capture best practices from other sources and deploy in the own context. There are reasons to say that these efforts did not get a fair amount of success except the possible benefit of communicating a comparative message that someone