benchmarking
Definition
Measurement of the quality of a firm's policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of the best-in-class firms. The objectives of this exercise are (1) to determine what and where improvements are called for, (2) how other firms achieve their high performance levels, and (3) use this information to improve the firm's performance.
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benchmarking is in the Entrepreneurship, Management, & Leadership, Industries, Manufacturing, & Technology and Quality Control & Management subjects.
benchmarking appears in these other terms: competitive benchmarking, skill benchmarking
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