Definition – Benchmarking

  1. Benchmarking refers to a systematic comparison of performance based on objective performance criteria.
  2. It also describes the assessment of the strengths and weaknesses of a company, measured against a benchmark, which is a reference value resulting from a performance comparison.
  3. It serves to identify the best practices that are the cause of differences in performance.
  4. It describes the formulation and realization of goals and measures that lead to a sustainable increase in the performance of the company.

Source: logipedia / Fraunhofer IML

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