Benchmarking can be used to develop new opportunities for growth in several ways. First, by comparing direct and indirect advantages of benchmarking, you can assess whether it could be a beneficial practice for your business. Second, using a benchmarking timeline allows you to plot activities to benchmark, their duration, and progress across an editable timeframe. This can help you identify areas where you can improve or innovate. Lastly, analyzing key results from your benchmarking and translating them into key findings can help you identify actionable items to act upon immediately or in the long run.
Comparisons to a top performer or industry leader not only examine the current business performance...
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