Definition – Benchmarking
- Benchmarking refers to a systematic comparison of performance based on objective performance criteria.
- It also describes the assessment of the strengths and weaknesses of a company, measured against a benchmark, which is a reference value resulting from a performance comparison.
- It serves to identify the best practices that are the cause of differences in performance.
- It describes the formulation and realization of goals and measures that lead to a sustainable increase in the performance of the company.
Source: logipedia / Fraunhofer IML
Alternative Meanings:
- Definition – Benchmarking
- Benchmarking refers to a systematic comparison of performance based on objective performance criteria.
- It also describes the assessment of the strengths and weaknesses of a company, measured against a benchmark, which is a reference value resulting from a performance comparison.
- It serves to identify the best practices that are the cause of differences in performance.
- It describes the formulation and realization of goals and measures that lead to a sustainable increase in the performance of the company.
