benchmarking
n.
standard according to which something can be measured or judged (such as product or business practices of a competitor)
benchmark
v.
measure (such as the product of a competitor) according to indicated standards as to compare it with and improve own product
Benchmarking
For the geolocating game, see
benchmarking (geolocating). For other uses of the term 'benchmark' see
benchmark. Benchmarking (also "best practice benchmarking" or "process benchmarking") is a process used in
management and particularly
strategic management, in which organizations evaluate various aspects of their processes in relation to
best practice, usually within their own sector. This then allows organizations to develop plans on how to adopt such best practice, usually with the aim of increasing some aspect of performance. Benchmarking may be a one-off event, but is often treated as a continuous process in which organizations continually seek to challenge their practices.
See more at Wikipedia.org...
Benchmarking
Definition of this term to be added in next version.
Benchmarking
looking for best practice in the same or other industries so that rigorous standards can be set across all company practices and processes. It is one of the ways that competitive advantage can be sustained.
Benchmarking
An improvement process in which a company measures its performance against that of best in class companies, determines how those companies achieved their performance levels and uses the information to improve its own performance. The subjects that can be benchmarked include strategies, operations, processes and procedures.
Free Download Now!
