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How is Benchmarking Useful in Business

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Do you think benchmarking is just another fad or is it really useful for all firms? Why, or why not? How could benchmarking be used in your place of employment? Does it rate as a viable tool for future development?

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In my opinion, benchmarking is not a fad. Benchmarking is a very useful tool in evaluating processes of similar organizations. Benchmarking can be utilized in virtually any situation. For example, if a dental clinic desired to expand its scope of service and begin offering same day dentures, it would benchmark with other dental practices, both similar and dissimilar, to determine the ...

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