What are the different types of benchmarking that a business can undertake?

There are several types of benchmarking a business can undertake. The common ones involve benchmarking of business processes, products, strategies, and performance. Performance benchmarking typically involves the use of quantitative data such as metrics and KPIs. Strategy and process benchmarking, on the other hand, often involves the use of qualitative data on people and resources. Another way to categorize benchmarking is by internal and external. Internal benchmarking typically looks within the organization, while external benchmarking examines the organization's position on a more macro level.

Question was asked on:

There are different types of benchmarking you can undertake. The common ones involve business processes, products, strategies, and/or performance. To benchmark performance, use quantitative data like metrics and KPIs. To benchmark strategy and processes, use qualitative data on people and resources. Another way to break down benchmarking types is by internal vs. external. Here, we've listed some examples for each. Internal benchmarking typically looks within the organization, whereas external benchmarking examines the organization's position on a more macro level (Slide 6)

Asked on the following presentation:

Business Benchmarking

Comparisons to a top performer or industry leader not only examine the current business performance of your organization, but could also inspire new p...

file_save

Download free weekly presentations