Benchmarking enables an organization to learn from the outside and to develop relevant measures and implement company-specific solutions. On principle, a company may benefit directly as well as indirectly.
Direct Benefits of Benchmarking
- The company is analyzed.
- The companies or sections of companies are compared.
- Best practices are defined.
- Performance deficits are identified.
- Alternative solutions are evaluated.
Indirect Benefits of Benchmarking
- Promote an understanding of the own business processes.
- Question the objectives of the company.
- Verify the corporate strategy.
- Strengthen the competitive position.
- Initiate the process of continuous improvement (KAIZEN).
Benefits of Benchmarking