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Understanding the Purpose and Use of Benchmarking

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by J. DeLayne Stroud

Benchmarking is a way of discovering what is the best performance being achieved – whether in a particular company, by a competitor or by an entirely different industry.

Understanding the Purpose and Use of Benchmarking

Benchmarking is a way of discovering what is the best performance being achieved - whether in a particular company, by a competitor or by an entirely different industry. This information can then be used to identify gaps in an organization's processes in order to achieve a competitive advantage.

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