Benchmarking for Improvement

It aids you in comparative profiling of products and services.

Looking at what other companies do and comparing them to your own organization can give insights into new directions for product, process, or service innovations. This approach is known as "benchmarking."

It aids you in comparative profiling of products and services. Benchmarking processes can be undertaken between similar activities within the same organization, between similar activities in different divisions of a large organization, between similar activities in different firms within a sector, and between similar activities in different firms and sectors.

ACTION POINT: Compare your products and processes with those of other firms systematically and regularly.