Some potential risks of benchmarking include the possibility of focusing too much on the competition and losing sight of your own company's unique strengths and capabilities. It can also lead to complacency if you're only aiming to match the industry leader, rather than striving to surpass them. To mitigate these risks, it's important to use benchmarking as a tool for improvement, not as the sole driver of your strategy. Always keep your company's mission and values at the forefront, and use the insights gained from benchmarking to enhance your own unique capabilities and strengths.
Comparisons to a top performer or industry leader not only examine the current business performance...
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