Benchmarking is measuring one's performance against others to identify areas for improvement. There are different types including process, strategic, internal, and competitive benchmarking. The document discusses benchmarking concepts, types, and provides an example benchmarking process. It concludes that while benchmarking requires caution, it can help organizations learn from others and identify ways to enhance performance.

2. CONTENTS
ABSTRACT
INTRODUCTION
DEFINITION
NEED OF THE STUDY
OBJECTIVE OF THE STUDY
CONCEPT OF BENCHMARKING
TYPES OF BENCHMARKING
CONCLUSION
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3. LOGO
ABSTRACT:
The introduction part deals with the concept of Benchmarking.
This paper well aware types of Benchmarking and study deals
Need/Purpose, Scope, Objective, Methodology, Presentation, Limitations,
Core Concept and finally Conclusion for benchmarking.

4. Company name
INTRODUCTION
Benchmarking is a process that allows organizations to improve upon
existing ideas. In order to eliminate myths and misconceptions about benchmarking
it is important to know exactly what benchmarking is, the different types of
benchmarking.

5. DEFINITION OF BENCHMARKING
³Benchmarking is simply the process of measuring the performance of
one's company against the best in the same or another industry´(Stevenson,
1996).

6. To know what is
the concept of
benchmarking
To know
what are the
types having NEED
benchmarking
To know
where your
competitors
stand.
The study is done based on the objective to gain
OBJECTIVE
a better understanding of the concept of benchmarking and
how the organizations performing with this measurement.

7. CONCEPT OF BENCHMARKING
Benchmarking is not a complex concept but it should not be taken too lightly.
Benchmarking is basically learning from others. It is using the knowledge and the
experience of others to improve the organization. It is analyzing the performance and
noting the strengths and weaknesses of the organization and assessing what must be
done to improve.

8. REASONS FOR BENCHMARKING
There are three reasons that benchmarking is becoming more commonly
used in industry (Boxwell, 1994). They are:
Benchmarking
Benchmarking is Benchmarking has the ability to
a more efficient speeds up bring corporate
way to make organization͛s America's
improvements. ability to make performance up
improvements. as a whole
significantly.

9. Benchmarking Process
Benchmarking is not just making changes and improvements for the
sake of making changes, benchmarking are about adding value. When using
benchmarking techniques, an organization must look at how processes in the
value chain are performed (Stevenson, 1996):

10. Benchmarking Process
‡Identifying a critical process that needs improvement.
‡Identify an organization that excels in the process, preferably the best.
‡Contact the organization that you are benchmarking; visit them,
and study the process or activity.
‡Analyze the data.
‡Improve the critical process at your own organization.

11. TYPES OF BENCHMARKING
Actually the organizations following performance measuring types are
Process benchmarking
Operational benchmarking
1 Financial benchmarking
2
Functional benchmarking TYPES Benchmarking from an investor perspective
Strategic benchmarking
Performance benchmarking
Product benchmarking

12. Best practice
Best practice the term 'best practice' refers to discovering and implementing the most
effective-or 'best'-means for a business to attain its objectives successful.
Strategic Process
benchmarking benchmarking
aStrategic benchmarking Process benchmarking
helps a business improve its its fiscal development or
overall performance. overall stability
for measuring
Internal Competitive
benchmarking benchmarking
A business often uses
Internal benchmarking
competitive benchmarking to
involves studying other take stock of its role in its
departments and functions
industry or marketplace as it
within a company Productivity benchmarks
relates to its competition.
This Benchmarks refer to
the goods or services a
company produces and how
well they are produced.

13. Benchmarking can be as complex as re-engineering or as
simple as thumbing through the quarterly reports of organizations
and making comparisons. Although organizations must use
Conclusion:
benchmarking with some caution, it can be informative and foster a
spirit of openness and cooperation from indirect competitors