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What is Benchmarking?

 , September 20, 2015 updated on December 01, 2016
Benchmarking is the comparison of your processes, metrics or targets to others in the same industry. In many cases, a comparison is made to the best results in an industry as represented by a top competitor or known best practices.
Overview: Benchmarking
TypeStrategy Planning
Business Metrics
DefinitionThe comparison of results with a competitor or industry best practice.
ValueIdentifying competitive advantages and disadvantages.
Related ConceptsBusiness Metrics
Statistical Analysis
Business Analysis
Strategic Planning

Management

This is the complete list of articles we have written about management.
Action Plan
Approaches
Asset Management
Assumptions
Authority
Benchmarking
Budget Planning
Business Management
Business Models
Business Operations
Capabilities
Capability Analysis
Catfish Management
Change
Change Management Metrics
Change Strategy
Communication
Contingency Planning
Controls
Cost Benefit Analysis
Creative Direction
Culture
Decision Making
Delegation
Employee Relations
Estimates
Ethics
Executive Management
Facilitation
Feasibility Study
Financial Controls
Forecasting
Gap Analysis
Goal Setting
Governance
Heliotropic Effect
Human Resources
Influencing
Internal Customers
IT Management
Knowledge
KPIs
Leadership
Lessons Learned
Management
Management Accounting
Management Analysis
Management Design
Management Functions
Management Goals
Management Improvement
Management Plan
Management Process
Management Tasks
Market Analysis
MBO
Metrics
Metrics
Mission & Vision
Nudge Theory
Objectives
Onboarding
Operating Model
Operations Analysis
Optimization
Org Structure
Organizing Principle
Performance Issue
Performance Management
Planning
Politics
Prioritization
Problems
Process
Projects
Quality
Quality Assurance
Quality Control
Quality Management
Requirements
Risk
Service Management
Strategy
Strengths
Styles
Team Culture
Team Management
Team Objectives
Teams
Theory
Transformation
Transparency
Types
Work Quality
Workplace Privacy
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Management Accounting

A list of management accounting techniques and concepts.

Target Costing

A definition of target costing with examples.

Continuous Improvement

A definition of continuous improvement with examples.

Takt Time

An overview of takt time with calculation formula and example.

Lead Time vs Cycle Time

The difference between lead time and cycle time explained with an example.

Productivity Formula

How to calculate productivity with 3 examples.

Complexity Cost

A definition of complexity cost with examples.

Run Rate

The definition of run rate with calculation examples.

Managerial Economics

The definition of managerial economics with examples.

Management

A guide to management techniques.

Strategic Planning

A list of techniques for developing and implementing a strategy.

Productivity

The basics of productivity.

Project Management

A guide to project management.

Management Strategy

A list of common management strategies.

Internal Benchmarking

The common types of internal benchmarking.

Internal Customer

A definition of internal customer with examples.

Business Optimization

A definition of business optimization with examples.

Team Objectives

The common types of team objective.

Internal Stakeholders

A definition of internal stakeholder with examples.

Management Planning

The common types of management planning.

Management Examples

A definition of management with examples.
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