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Friday, June 06, 2008

What Really is Benchmarking?


by , Apr 10, 2008
Have you ever wondered what Benchmarking really means? Is it just management hype or jargon used by expensive consultants? Here is a short outline of Benchmarking as used in business organizations. ...

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Different kinds of Benchmarking:
There are basically four different kinds of benchmarking:
>>Internal - Here benchmarking takes place inside an organisation, e.g. between departments or business units
>>Functional - Here benchmarking is done for similar processes within the same field or industry
>>Competitive - Benchmarking operations/processes and performance with competitors in the same field or market is conducted here
>>Generic - Here processes/operations and performance is compared between organisations of similar size in unrelated industries. continue reading

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