Benchmarking for Competitive Advantage

Abstract

This text argues that the only way to drive organizations to excellence is to ensure that they keep their eyes on their competitors and the best companies in the world. Benchmarking is a technique by which companies can compare their own performance in key areas against results achieved by the world's best companies. Management can use benchmarking to review critically their performance, and drive them towards improvement. This guide examines the nature and application of benchmarking, what has been gained by world leaders, and how to avoid the pitfalls. It provides information about processes which are key to the success of the business, alerts the management to what is possible in the best organizations, and provides management with a basis to set key performance standards. It is suitable for senior and middle management in industry.

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