Meaning of Benchmarking (What it is, Concept and Definition)

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Benchmarking it is a process of Comparation in products, services and business practices, and it's an important management tool of companies. O benchmarking it is carried out through surveys to compare the actions of each company.

O benchmarking aims to improve the functions and processes of a given company, in addition to being an important ally to beat the competition, since the benchmarking analyzes the strategies and enables the other company to create and have new ideas on top of what is already being done.

O benchmarking it consists of learning from other companies, being a work of great intensity, which requires a lot of time and discipline. It can be applied to any process and is relevant to any organization, considering that it is an instrument that will contribute to improving the performance of the company or organization.

Types of benchmarking

It is possible to identify 4 types of benchmarking. O benchmarking competitive it is related to the processes and management of competing companies. It is a delicate area, as competing companies defend and hide the practices that lead to success.

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O benchmarking generic it consists of comparing the parameters of the companies' functionality, in aspects such as the time it takes for a given product to reach the customer, since it was requested.

O benchmarking functional it is often compared to generic because it is related to a company's performance process, such as distribution.

There is also the benchmarking internal, which is to take as a reference the practices and processes of other sectors within the company itself, and try to appropriate or improve them for other sectors. Internally, the benchmarking it favors the company itself, as it does not need to incur external research costs, and is an easier process to be performed.

See also the meaning of CRM.

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