Definition: Benchmarking is a systematic approach that allows a company to compare the performance of its organizational processes and activities to best practices. Dimensions typically measured are quality, time and cost. |
More on performance management: Balanced Scorecard, Hawthorne Effect, Management by Objectives, Objectives and Key Results, Performance Management. MBA Brief provides concise yet precise definitions of organizational concepts, management methods, and business models as taught in an MBA program. We keep it short and provide links to high-quality websites where you can learn more about your topic. |
© 2024 MBA Brief - Last updated: 6-12-2024 - Privacy | Terms