Some common misconceptions about business benchmarking include the belief that it's only about comparing numbers and metrics, that it's a one-time event rather than an ongoing process, that it's only for large corporations, and that it's a quick fix for performance issues. In reality, benchmarking is a comprehensive process that involves comparing business processes and performance metrics to industry bests or best practices from other industries. It requires commitment and time, and can be beneficial for organizations of all sizes.
Comparisons to a top performer or industry leader not only examine the current business performance...
Download template