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What Is Benchmarking?
Benchmarking is a tool to help you improve your business processes. Any business process can be benchmarked. It is the process of identifying, understanding, and adapting outstanding practices from organizations anywhere in the world to help your organization improve its performance.
Benchmarking will help you:
Application of benchmarking involves four key steps:
Benchmarking should not be considered a one-off exercise. To be effective, it must become an ongoing, integral part of an ongoing improvement process with the goal of keeping abreast of ever-improving best practice.
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