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Benchmarking can aid in brainstorming the best implementations by providing a standard or point of reference against which products, services, and processes can be compared. This comparison can reveal areas for improvement and generate ideas for enhancing performance. By analyzing the key results from benchmarking, actionable items can be identified and implemented either immediately or in the long run.
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Compare the direct and indirect advantages of benchmarking. And use the knowledge to assess whether benchmarking could be a useful practice for your business. (Slide 5) A benchmarking timeline allows you to plot activities to benchmark, their duration, and progress across an editable timeframe. (Slide 7) Use a table to display key results from your benchmarking. Analyze how these results can be translated into key findings. And identify actionable items to act upon immediately or in the long run. (Slide 14)
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Comparisons to a top performer or industry leader not only examine the current business performance of your organization, but could also inspire new p...
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