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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.
B. models are useful to determine how well a business unit, division, organization or corporation is doing when it is compared to other similar organizations.


Learn more about Benchmarking.

More on performance management: Balanced Scorecard, Hawthorne Effect, Management by Objectives, Objectives and Key Results, Performance Management.

You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA.

MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration.

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