benchmarking

  

Definition

A measurement of the quality of an organization's policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of its peers.

The objectives of benchmarking are (1) to determine what and where improvements are called for, (2) to analyze how other organizations achieve their high performance levels, and (3)to use this information to improve performance.


Use benchmarking in a sentence

  • This team was all about Benchmarking because they had three players that hit over forty home runs a season and they all competed with each other.

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  • Sometimes companies will use benchmarking to set their new standards of excellence that all future models must live up to.

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  • What I like to do is not reinvent the wheel. I prefer to rip and iterate or engage in benchmarking.

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