BENEFITS OF BENCHMARKING 

  Performance Improvement 

·        Defines specific gaps in performance and how to improve 

·        Products and services are redesigned to achieve outcomes that meet or exceed customer expectations 

·        Gaps in performance can result in a plan of action to improve 

Cultural Change 

·        Allows organizations to set realistic, rigorous new performance targets, and the process helps people to believe the credibility of the targets 

·        Looking to other companies provides more accurate target 

·        Increase in knowledge 

 Human Resources 

·        Provides a basis for training 

·        Closing the gap points out the need of empowered employees 

·        The organization activities are improved through cross-functional cooperation