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Benchmarking is defined as the process of identifying, studying, and implementing best practices in executing strategy....

Benchmarking is defined as the process of identifying, studying, and implementing best practices in executing strategy. Suppose you are managing a local landscaping company. How would you justify the use of benchmarking for your business?

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Answer #1

I would justify the use of benchmarking for a local landscaping company in the following ways-
1. Benchmarking will help the landscaping company to gain independent perspective about how the company is performing as compared to other companies.
2. Benchmarking will reduce the performance gap in order to identify the areas of development for the landscape.
3. Benchmark you will develop a standardized set of process and metrics which will be beneficial for the company.
4. Benchmarking will enable a set of culture of continuous improvement and standard operating procedure.
5. Benchmarking will set the performance expectation for the employees in terms of what the company holds them to be accountable for.


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