The use of benchmarking tool to improve efficiency of company's innovation activities in the conditions of digital economy

Sergey M. Vasin, Leyla A. Gamidullaeva, Alexey G. Finogeev, Vardan S. Mkrttchian and Artiom A. Berezin

International Journal of Process Management and Benchmarking, 2021, vol. 11, issue 2, 151-177

Abstract: Today there is a necessity of developing a unique market behaviour strategy using own competitive advantages to reach the highest scores of real competitive ability of a sector. The driving force of the competition law requires companies to have thorough strategies to improve the quality of produced goods, to decrease production costs and to increase labour efficiency. In this context the use of benchmarking tools to improve innovation efficiency at companies is an important task. The present work considers decision-making models and methods regarding company's competitiveness management in terms of benchmarking. The model of competitive interaction introduced in the article in the form of a system of coupled Van-der-Pol equations with time lag was successfully tested in radio physics and now is successfully applied in economics. The article demonstrates the application of the given system to describe benchmarking of different economic companies.

Keywords: benchmarking; digital economy; innovation activity; big data; enterprise management system; systems; decision-making support; innovation activity; Van-der-Pol equations; synergy. (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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