Benchmarking


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The big picture:

Benchmarking refers to the comparison of organisational processes and performances based on predefined indicators in order to create new standards and/or improved processes. It enables start-ups to compare themselves with established businesses in the same market for the purpose of improving and prompting innovation

When to use it:

Benchmarking can be crucial process when comparing a start-up to the rest of the chosen industry. This technique provides an insight across the industry on various elements of the market. It can provide new insights into the strength and weaknesses of a start-up to reveal or

How to Use the Tool:
  1. The internal benchmark - a comparison of performance and practices with similar units within the same enterprise, e.g. between business units.
  2. The competitive benchmark - a comparison of the indicators and performances with a group of its rivals..
  3. The functional benchmark - a comparison of the..