A best practice study is a process of studying successful organizations and selecting the best of their actions or processes for emulation. In new product development it means finding the best process practices, adapting them and adopting them for internal use. The goal of a best practice study is to improve the organization’s performance by identifying and implementing practices that have been proven successful in other organizations
To conduct a best practice study, the first step is to identify the area of focus. This could be any aspect of the organization’s operations, from marketing to human resources to manufacturing. Once the area of focus has been identified, researchers will identify organizations that are considered leaders in that area. These organizations will then be studied in order to identify the practices that have contributed to their success. After the practices have been identified, they will be adapted to fit the needs of the organization and implemented
By studying and adopting the best practices of successful organizations, it is possible for any organization to improve its own performance. However, it is important to note that best practices are not static; what works for one organization may not work for another. As such, best practice studies should be conducted on an ongoing basis in order to ensure that the organization is always using the most effective practices.