Benchmarking

Benchmarking

It is the process of comparing an organization’s performance, processes, or products against best practices or industry standards to identify areas for improvement.

Internal Benchmarking

comparing processes, performance, or products within different departments or units of the same organization.

Competitive Benchmarking

It compares an organization’s performance, products, or services directly against its competitors.

Functional Benchmarking

It involves comparing similar functions or processes across different industries.

Strategic Benchmarking

compares an organization’s long-term strategies with those of the best-performing companies in the industry.

Process Benchmarking

compares processes, regardless of industries