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Benchmarking – Explained in simple terms

February 16, 2023February 16, 2023 Young Entrepreneur actionable results, areas for improvement, benchmarking, best practices, clear, company, competitive benchmarking, competitiveness, competitors, continuous improvement, costly, customer satisfaction, customer surveys, data, efficiency, employee productivity, financial reports, improve, industry benchmarking, industry peers, industry publications, internal benchmarking, key performance indicators, kpis, learning, long-term process, operations, performance, practices, process, product quality, products, services, sources, strength, time-consuming, weakness

Benchmarking is a process that involves comparing a company’s performance or practices against those of its competitors or peers in