Benchmarking

  Benchmarking is the practice of comparing one's own Organization or individual self against the performance of others that are best in class.  The objective of benchmarking is to improve areas of performance, build relationships and share best practices.  In general there are seven different types of benchmarking: competitive benchmarking, financial benchmarking, functional benchmarking, performance benchmarking, process benchmarking, product benchmarking and strategic benchmarking.