Benchmarking can be an effective means to learn new skills and to develop your organization. However, it should be a process of continual improvement. Once you have implemented changes, you should benchmark your business again to see the results. This will tell you what is working, and where you can still improve.
What are the disadvantages of benchmarking?
What Are the Cons of Benchmarking?
- It doesn't really measure effectiveness. ...
- It is often treated as a solo activity. ...
- There tends to be a certainly level of complacency. ...
- The wrong type of benchmarking might be used. ...
- It can foster mediocrity.
What is benchmarking good for?
Benchmarking can allow you to:
Gain an independent perspective about how well you perform compared to other companies. Drill down into performance gaps to identify areas for improvement. Develop a standardized set of processes and metrics. Enable a mindset and culture of continuous improvement.
