Benchmarking is a systematic and continuous measurement process: a process of continuously measuring and comparing an organization’s business process against business leaders anywhere in the world to gain information which will help the organization to take action to improve its performance.
Advantages of Internal Benchmarking
(1) It uses similar language, mechanism, system, culture, mind-set and top-management support.
(2) There is considerable ease in the access to data.
(3) There are no problems in establishing communication between units.
(4) The process does not involve confidentially problem in accessing data.
(5) The returns of benchmarking efforts are relatively quick.
(6) The approach is relatively silent, low profile, and a low threat affair.
(7) It provides a test bed for quicker improvement.
(8) Along with transfer of data, expert services from the benchmarked unit are easily available.
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