What are the different types of Benchmarking?
Strategic Benchmarking is used to improve overall performance by examining the long-term strategies and approaches that have enabled great performers to succeed. It involves considering core competencies, developing new products and services; changing the balance of activities; and improving capabilities for dealing with changes in the background environment. Competitive Benchmarking is used when organizations consider their positions in relation to performance characteristics of vital products and services. Benchmarking partners are drawn from the same segment. Process Benchmarking is used when the focus is on improving detailed critical processes and operations. Partners are sought from best practice organizations that do similar work or deliver comparable services. Functional Benchmarking is used when organizations look to benchmark with partners from different business areas of activity in order to find ways of improving like functions or work processes. Internal Benchmarking seeks
