Application of Benchmarking
Benchmarking could be used for different reasons. It can be for:
1. Identifying and managing risk in the financial sector.
2. 360 Degree appraisals
3. Benchmarking training for communications.
4. Benchmarking in IT Company.
5. Benchmarking for identifying and merging quality improvement.
One of the most popular benchmarking tools is a 360 degree feedback form that is used for performance appraisal. A sample of the 360 degree feedback form is given below to help us understand the concept of benchmarking and how it is applied.