Meaning Of Bench Marking
Dimensions typically measured are quality time and cost.
Meaning of bench marking. Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. A standard by which something can be measured or judged. Benchmarking definition a standard of excellence achievement etc against which similar things must be measured or judged. The benchmark for sth this year the benchmark for iron ore is 60 a tonne.
The objectives of benchmarking are 1 to determine what and where improvements are called for 2 to analyze how other organizations achieve. Is a great distorter of seemingly fixed economic ideas and benchmarks. 1 auswahl des benchmarking objektes sachgut dienstleistung betriebsablauf methode das analysiert und verglichen werden soll. Ausfuhrliche definition im online lexikon instrument der wettbewerbsanalyse.
The benchmark price of oil dropped from 59 to 53 per barrel. Benchmark synonyms benchmark pronunciation benchmark translation english dictionary definition of benchmark. Benchmarking ist der kontinuierliche vergleich von produkten dienstleistungen sowie prozessen und methoden mit mehreren unternehmen um die leistungslucke zum sog. The merval stock index the benchmark measure of argentinas stock market rose 82 yesterday.
The new hotel is a benchmark in opulence and comfort. Benchmarking is a tool of strategic management that allows the organization to set goals and measure productivity on the basis of the best industry practices. Benchmarking is a process of measuring the performance of a companys products services or processes against those of another business considered to be the best in the industry. It is a practice in which quality level is used as a point of reference to evaluate things by making a comparison.
2 festlegung des klassenbesten im hinblick auf das ausgewahlte benchmarking objekt wettbewerber oder nichtwettbewerber.
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