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Editor's Notes

  1. Benchmark - in business terms to benchmark means to Compare It can also be used as a Standard by which something is measured or judged Benchmarking   is the process of comparing We usually compare processes or  performance  to best practices  from other industries And why do we Benchmark? +It helps us to Identify opportunities + Set realistic goals + And Challenge ourselves to see what is possible + And more importantly we can Learn from the leaders’ experiences
  2. Start with a question – How good do I want to be? How can I improve? Define your metric by which you are measured Monitor over time and Strive for Improvement
  3. Benchmarking is a Continuous process of improvement It begins with PLANING –so that we know the current processes, then we select criteria and identify benchmarking partners, who we want to be compared with COLLECT – collect data and develop instruments for collecting it i.e. questionnaires, interviews etc. ANALYZE – analyze data and develop implementation plan ADAPT – adapt best practices in your business, monitor them and plan for continuous improvement
  4. Start with a question – How good do I want to be? How can I improve? Define your metric by which you are measured Monitor over time and Strive for Improvement
  5. Benchmarking is a business tool that can also be applied to personal development to help people emulate the best behaviors ZART  Each of us is comparing with others: - Oh, look at her! i wish i could be like her.. I   envy  him his new car! Is there something bad when you compare yourself with other people? I don’t think so if you do it wisely. Career benchmarking Job benchmarking Education benchmarking Personal benchmarking Then Benchmark against your own potential, and against your desires. Because Benchmarking against normal sets the bar too low.