Benchmarking is a process of comparing an organization's or company's performance to that of other organizations or companies using objective and subjective criteria. The process compares programs and strategic positions of competitors or exemplary organizations to those in the company reviewing its status for use as reference points in the formation of organization decisions and objectives. Comparing how an organization or company performs a specific activity with the methods of a competitor or some other organization doing the same thing is a way to identify the best practice and to learn how to lower costs, reduce defects, increase quality, or improve outcomes linked to organization or company excellence.
Organizations and companies use benchmarking to determine where inputs, processes, outputs, systems, and functions are significantly different from those of competitors or others. The common question is, What is the best practice for a particular activity or process? Data......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: Generic Benchmarking
Approximate Word Count: 1541
Approximate Pages: 7 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on Generic Benchmarking, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!