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benchmark
(redirected from benchmarking)

   Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.03 sec.
benchmark
a point of reference about which comparisons can be made.


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Benchmarking has been widely used in the business world as well as in the private industry, where managers are looking for better ways to do business by using benchmarking as a management improvement tool.
With benchmarking one can define customer requirements, establish effective goals and objectives, develop true measures of productivity, improve competitiveness, and learn from industry best practices.
The benchmarking concept, a familiar one to most executives, keeps gaining converts.
 
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