What is Benchmarking?
Benchmarking can somewhat philosophically be defined as follows :
Benchmarking is the practice of being humble enough to admit that
someone else is better at something, and being wise enough to learn how to
match them and even surpass them at it.
This definition captures the essence of benchmarking, namely learning from others. The
core of the current interpretation of benchmarking is:
· Measurement, of own and the benchmarking partners’ performance level, both for
comparison and for registering improvements.
· Comparison, of performance levels, processes, practices, etc.
· Learning, from the benchmarking partners to introduce improvements in your own
organization.
· Improvement, which is the ultimate objective of any benchmarking study.
Benchmarking emphasizes attaining so-called breakthrough improvements, as shown
below :
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