Benchmarking
Benchmarking
Benchmarking (pronunciation: /ˈbɛn(t)ʃmɑːkɪŋ/) is a process used in management where organizations evaluate various aspects of their processes in relation to best practice companies' processes, usually within their own sector. This allows the organization to develop plans on how to make improvements or adapt specific best practices, usually with the aim of increasing some aspect of performance. Benchmarking may be a one-off event, but is often treated as a continuous process in which organizations continually seek to improve their practices.
Etymology
The term "benchmarking" is derived from the practice of making dimensional height measurements of an object on a workbench using a graduated scale or similar tool, and using this as a reference. The term was first used by cobblers to measure people's feet for shoes. They would place someone's foot on a "bench" and mark it out to make the pattern for the shoes.
Related Terms
- Best Practice: A method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark.
- Performance Measurement: The process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component.
- Process Management: The ensemble of activities of planning and monitoring the performance of a process, especially in the sense of business process, often confused with reengineering.
- Reengineering: The radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times and quality.
See Also
External links
- Medical encyclopedia article on Benchmarking
- Wikipedia's article - Benchmarking
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