Benchmarking

Learning Goal: I’m working on a finance question and need an explanation and answer to help me learn.

Benchmarking is the process of comparing the cost, cycle time, productivity, or quality of a specific process or method to another that is widely considered to be an industry standard or best practice. The term benchmarking was first used by cobblers to measure ones feet for shoes. As a leader, how can you leverage the use of benchmarking to improve the delivery of services?

requires :- this post replies need to be substantial and constructive in nature. They should add to the content of the post and evaluate/analyze that post answer. including one scholarly peer-reviewed reference. Minimum 200 words.

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