Problem

What are the different types of benchmarking and explain the reasons for Benchmarking?

Different types of bench marking

• Performance benchmarking or operational benchmarking
• Process benchmarking or functional benchmarking
• Strategic benchmarking

Reasons for Benchmarking (any four reasons given below)

• to achieve business and competitive objectives
• external orientation
• helps in developing best practices
• time and money are saved
• helps in developing healthy competition
• helps an organisation to identify whether they have fallen behind in competition
• enhances innovation

 

Posted Date: 10/30/2013 2:24:02 AM | Location : United States

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