Benchmarking

"The tough thing about success is that you have got to keep on being a success" - Irving Berlin

Understanding the scope and power of benchmarking is a strategic imperative in any business, as it allows existing businesses to defend their position, as well as attack new business opportunities.

Benchmarking is a structured process of identifying, understanding, and adapting outstanding practices of industry leaders to help a company improve its performance and achieve sustainable competitive advantage. It involves measuring and comparing key aspects of the organisation relative to customer expectations or competitors.