Benchmarking – essence, features, opportunities
DOI:
https://doi.org/10.5281/zenodo.5667955Keywords:
benchmarking, efficiency, strategy, process, managementAbstract
Benchmarking is a methodology for evaluating the effectiveness of the activities of an organization and the factors which determine it (processes, systems, methods, resources, etc.), as in the meantime it is also a method for continuous learning and sophistication. In a competitive environment, the organization’s business performance, in terms of absolute values, is not essential. What determines its success, in the long term, is the effectiveness compared with that of its competitors. Benchmarking is a continuous process of searching, measuring and comparing of the effectiveness, products, strategies, policies, operations, business environment, culture, structures, processes, systems, methods and skills in the practice of the organization, with those of „the best“ competitors, or the ones recognized as „best“ in a particular area, with the aim of continuous learning and improvement, which is a guarantee for increase of the efficiency and competitiveness of the company.
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