The Benefits of Benchmarking
abdul, CEO, United Arab Emirates, Member
From my experience and study, I found additional to the mentioned benchmarking benefits in the summary the following list of benchmarking advantages:
1. Define the price per unit of the product / service.
2. Use results to improve your organization strategy.
3. Inform you about the status of your long term goals.
4. Support decision making.
5. Measure customer satisfaction and loyalty.
6. Increase morale of employees
7. Support budgeting
8. Rank your organization in the market.