Benchmarking: a general reading for management practitioners

TLDR

Benchmarking is framed by its classification and process model, which identify best‑practice sources, promote management perspectives, and outline the necessary components and benefits for organizations. The paper introduces benchmarking to management practitioners and clarifies its meaning through three working definitions. The authors clarify benchmarking by presenting three practical working definitions. The paper offers practical hints for organizations embarking on their first benchmarking project.

Abstract

Abstract This paper aims at introducing benchmarking to management practitioners. Emphases have been placed on the classification of benchmarking and the benchmarking process model. The former will help in identifying the sources of best practices as a result of assisting in promoting management perspectives and facilitating the formation of various specific goals. The latter, on the other hand, systematically introduces all necessary components in a benchmarking project. Additionally, effort is put in to clarify the meaning of benchmarking by introducing three useful working definitions. Some materials of benchmarking, including its background and benefits, are also given. Finally, some hints are provided to organizations that want to conduct first‐time benchmarking project.