Benchmarking is a method of diagnosis, design and improvement of the various areas of the company by comparing the current state with the chosen standard. Model processes adopted in other companies (leaders of the industry) are the sources of their success.
Software solutions can help in the collection of benchmarking data for comparisons and for reporting or presentation of the results of comparisons.
It is used as a tool for comparison of marketing strategies, production methods and other activities of competitors.
- Monkhouse, E. (1995). The role of competitive benchmarking in small-to medium-sized enterprises. Benchmarking for Quality Management & Technology, 2(4), 41-50.
Author: Krzysztof Wozniak