Bench Marking Definition at Benches-Phrase_Fullsearch-Us
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Bench Marking Definition. There are many ways to define benchmarking, as would make sense given that the term was originally derived in the 19th century in a totally different context than what is applied today. The original term, bench mark, was used in surveying and.
What does BENCHMARK mean? Definition of BENCHMARK from acronymsandslang.com
Preferably, these comparisons are made with businesses from the same sector, but it is possible to use benchmarking between businesses from other sectors as well. Benchmarking is the continuous process of measuring one’s own product, services and activities against the best level of performance. Benchmarking is the measurement of an organization’s internal processes and performance data and a comparison with those of related and comparable organizations.
What does BENCHMARK mean? Definition of BENCHMARK
Benchmarking is the continuous process of measuring one’s own product, services and activities against the best level of performance. Benchmarking, is a tool of strategic management, that allows the organization to set goals and measure productivity, on the basis of the best industry practices. Benchmarking is an improvement tool whereby a company measures its performance or process against other companies’ best practices, determines how those companies achieved their performance levels, and uses the information to improve its own performance. The act of measuring the quality of something by comparing it with something else of an accepted….
