10.5.7 Benchmarking

Benchmarking is the continuous search for an application of significantly better practices that lead to superior competitive advantage. It is the process of identifying, understanding, and adopting outstanding practices and processes from organisations anywhere in the world to help your organisation to improve its performance. It is the practice of being humble enough to admit that someone else is better at something, and wise enough to learn how to match, and even surpass them at it. This is the core of a learning organisation.

  1. It enables organisations to effect radical improvements not just incremental ones.
  2. It exposes managers to practices that they would have never developed on their own
  3. It accelerates change and an awareness ...

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