Benchmarks should be based on best practices. In benchmarking, the best performance anywhere can be used as a standard to be attained. The best performance of a competitor with a similar operation is a good "best practice" to emulate.
Benchmarks should be based on best practices. In benchmarking, the best performance anywhere can be used as a standard to be attained. The best performance of a unit in comparable past periods is a good "best practice" to emulate.
Benchmarks should be based on best practices. In benchmarking, the best performance anywhere can be used as a standard to be attained. The unit’s previous year's performance may have been outstanding, or it may have been average, or it may have been a disaster. Unless the previous year's performance was the best performance anywhere, it cannot be used as a benchmark, so the previous year’s performance is not an example of a benchmarking standard.
Benchmarks should be based on best practices. In benchmarking, the best performance anywhere can be used as a standard to be attained. However, most companies do not permit outside organizations to review their processes on-site — particularly if they are competitors. A large corporation can send a team to its best division to review their processes. Personnel there can provide information about lessons they have learned and potential problems and demonstrate the successful application of the processes. Someone from that division can coach other departments in improving their processes. This is an advantage that a large corporation would have that probably would not be available to a smaller organization.
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