GLOSSARY

Benchmarking

Benchmarking is the process of comparing a firm's performance against the practices of other leading companies - in or outside of an industry - for the purpose of improving performance.

What is Benchmarking?

Benchmarking is the process of comparing a firm's performance against the practices of other leading companies - in or outside of an industry - for the purpose of improving performance. Companies also benchmark internally by tracking and comparing past performance. Dimensions typically measured are quality, time and cost.

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