Performance Benchmarking
Performance Benchmarking is the process of comparing a company`s performance metrics to industry standards or best practices to identify areas for improvement.
Benefits
Performance benchmarking identifies areas for improvement by comparing with industry standards.
Frequently Asked Questions
What is the performance benchmarking process?
Performance benchmarking compares a company`s metrics to industry standards to identify improvement areas.
What does benchmarking mean?
Benchmarking is comparing performance metrics to industry standards to identify areas for improvement.
What are the metrics for performance benchmarking?
Metrics for performance benchmarking include financial ratios, productivity measures, and customer satisfaction scores.
Key Takeaway
Performance Benchmarking identifies areas for improvement by comparing with industry standards.