What is benchmarking?

Updated: Aug 31

Benchmarking is the level of quality achievement established by one company that other companies

seek to achieve.

Benchmarking is basically of four types:

  • Internal Benchmarking is the comparison of the department following a process in a company with the other departments of similar process within the same company.

  • Competitive Benchmarking is the comparison of the company with its direct competitor. For e.g. Maruti Suzuki vs Hyundai.

  • Functional Benchmarking is the comparison/competition with other industry but with similar process. For e.g. allopathy vs ayurveda.

  • Generic Benchmarking is comparison with the unrelated business process that can be practiced in similar ways regardless of the industry like ease of payment from customer’s side, order fulfillment etc.

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