The Benefits of Benchmarking in Business Operations
Nicole Fallon
Jan 12, 2021
Benchmarking your business operations with defined metrics can help track progress and reach goals faster. Here are the benefits of benchmarking.
Businesses can use benchmarking in their operations to measure themselves against internal or external standards.
Benchmarking can be used to measure internal progress, performance against competitors and how your processes rank against world-class organizations.
The process of benchmarking involves identifying key metrics, assessing where you currently are, determining where you want to be and creating an action plan to achieve and measure your goals.
This article is for business owners that want to implement a benchmarking system to track operational progress and development.