Benchmarking

Benchmarking,

Definition of Benchmarking:

  1. A measurement of the quality of an organizations policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of its peers.

    The objectives of benchmarking are (1) to determine what and where improvements are called for, (2) to analyze how other organizations achieve their high performance levels, and (3) to use this information to improve performance.

  2. A surveyors mark cut in a wall, pillar, or building and used as a reference point in measuring altitudes.

  3. A standard or point of reference against which things may be compared.

  4. Evaluate (something) by comparison with a standard.

Synonyms of Benchmarking

Standard, Point of reference, Basis, Gauge, Criterion, Specification, Canon, Convention, Guide, Guideline, Guiding principle, Norm, Touchstone, Yardstick, Test, Litmus test, Barometer, Indicator, Measure, Model, Exemplar, Classic example, Pattern, Paradigm, Archetype, Prototype, Ideal

How to use Benchmarking in a sentence?

  1. Sometimes companies will use benchmarking to set their new standards of excellence that all future models must live up to.
  2. The pay settlement will set a benchmark for other employers and workers.
  3. What I like to do is not reinvent the wheel. I prefer to rip and iterate or engage in benchmarking .
  4. A benchmark is a survey mark made on a monument having a known location and elevation, serving as a reference point for surveying.
  5. We are benchmarking our performance against external criteria.

Meaning of Benchmarking & Benchmarking Definition