Competitive Benchmarking contributes to the improvement of business strategies by providing a clear picture of where a company stands in comparison to its competitors. It helps identify the strengths and weaknesses of a company's strategies, products, or services. By comparing these aspects with those of the competitors, a company can understand what it needs to improve, maintain, or leverage. This information can be used to make strategic decisions, set goals, and implement changes to improve performance and competitiveness.
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