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
What I like to do is not reinvent the wheel. I prefer to rip and iterate or engage in benchmarking.
Sometimes companies will use benchmarking to set their new standards of excellence that all future models must live up to.