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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1558 |
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"Benchmarking is an activity which organizations use for discovering best practices and to establish a leadership position. By identifying world-class organizations, products (both goods and services), and business practices and then evaluating the reasons for their world-class status, companies can achieve a superior status among there competitors...
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Some ways of benchmarking are to look for identifying gaps in performance. Seek fresh approaches to bring about improvements in performance. Follow through with implementing improvements. Also, follow up by monitoring progress and reviewing the benefits of the program.
Benchmarking requires being open to new ideas and learning from what others do best, whether they are inside or outside the industry, domestic or foreign...
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General points of the essay
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