Benchmarking can help in improving business operations by identifying gaps in performance and strategies. It allows businesses to compare their processes and performance metrics to industry bests or best practices from other industries. This process can reveal areas where the business can improve and stay competitive. It's not a one-time deal, procedures are continuously examined and analyzed to deliver improved performances. Therefore, businesses can use benchmarking to seek out the best possible implementation at different stages of their operations.
Comparisons to a top performer or industry leader not only examine the current business performance...
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