Benchmarking is a strategic process used by companies to measure their performance, processes, or products against industry standards, competitors, or best practices. It helps businesses identify strengths, weaknesses, and opportunities for improvement by comparing key metrics such as revenue, productivity, or customer satisfaction.
Startups and established businesses alike use benchmarking to drive operational efficiency, improve decision-making, and enhance competitive positioning. By analyzing performance gaps and learning from top performers, companies can adopt proven strategies, set realistic goals, and achieve sustainable growth.
Types of Benchmarking
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