Benchmarking is a continuous process
Becoming one of tomorrow’s leaders requires a long term commitment to improvement. Companies are constantly seeking higher and higher levels of performance. However, as organizations improve, competitors continue to redefine the term “Best”. A Benchmarking program can fit into and feed annual organizational planning and budgeting cycles. The results of Benchmarking can be used as a guide for developing short term plans in the organization and therefore prioritize the issues facing the organization. Executives can then make more informed decisions based on the best opportunities. As we discussed, one objective of Benchmarking is to achieve a real breakthrough in performance. Through the identification of practices that contribute to improvements in efficiency as well as quality, it is possible to leap ahead of the competition and establish a new standard of performance.
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