Application of Benchmarking

1. Understand in detail existing business processes.
2. Analyse the business processes of others.
3. Compare own business performance with that of others analysed.
4. Implement the steps necessary to close the performance gap

Benchmarking should not be considered a one-off exercise. To be effective, it must become an ongoing, integral part of an ongoing improvement process with the goal of keeping abreast of ever-improving best practice.