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Benchmarking techniques

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Recommend three benchmarking techniques and identify those that might improve budget accuracy in healthcare organization for the future. Justify the choices.

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The first benchmarking technique is the internal benchmarking technique in which there is systematic comparison of organizational processes and performances to create new standards and to improve the processes of the business units within the organization. This benchmarking technique can help improve budgeting accuracy.

The second benchmarking technique is when the performance of the unit or business is compared with that of a competitor. Here there is a ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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