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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 741 |
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Before deciding to benchmark, a company needs to determine what they want to benchmark.
Benchmarking against operations is called internal benchmarking. This is one of the simplest forms, since most companies have similar functions inside their business units. Determining an organisation's internal performance standards - internal benchmarking's main objective - enables a multitude of information to be shared...
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Determining an organisation's internal performance standards - internal benchmarking's main objective - enables a multitude of information to be shared.
Competitive benchmarking is used with direct competitors. Performed externally, competitive benchmarking's goal is to compare companies in the same markets that have competing products, services, or work processes (for example, McDonald's vs...
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