HELPING BUSINESSES IMPROVE IN PLANNING AND PERFORMANCE THROUGH INTERFIRM COMPARISON— THE EXPERIENCE OF THE SINGAPORE GARMENT INDUSTRY

Helen Tan Poh Koon and Meng-Hye Lee
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Helen Tan Poh Koon: School of Accountancy & Business Nanyang Technological University, Singapore
Meng-Hye Lee: School of Accountancy & Business Nanyang Technological University, Singapore

Journal of Enterprising Culture (JEC), 1993, vol. 01, issue 01, 145-157

Abstract: It is recognised that the overall success of a business depends very much on the quality of management planning, and management needs relevant information in order to plan effectively. However, most management information systems are centered on information obtained in-house. Very little emphasis is placed on external information, except some very general information published by Government bodies. If it is possible to incorporate information from other similar firms into the analysis, a firm will be able to plan and therefore compete more efficiently and improve its overall performance. The application of interfirm comparison studies as an analytical tool to aid management in planning and performance improvement has been well developed and widely accepted in many developed countries. This paper explains the first application of interfirm comparison studies on a wide and comprehensive scale in Singapore, with particular reference to the garment industry business.

Date: 1993
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DOI: 10.1142/S0218495893000087

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