The direct advantages of benchmarking include the ability to compare your business performance against industry standards, identify areas for improvement, and develop strategies for achieving these improvements. It also allows you to identify best practices in the industry and implement them in your business. Furthermore, benchmarking can provide insights into how your competitors are achieving their performance levels, which can be a valuable tool for strategic planning.
Comparisons to a top performer or industry leader not only examine the current business performance...
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