Benchmarking comes in two forms: internal and external.
Internal benchmarking is the process of comparing the current state of one's practice against historical performance. Internal benchmarking can also help create progressive goals towards longer term objectives as bottlenecks, unnecessary expenses, etc., are defined.
External benchmarking compares one's practice against the performance of others in the same industry and/or specialty. External benchmarking can offer a window into general competitor performance as a way of seeing how effectively others perform similar tasks. Through external benchmarking, practices can see not only how they stack up, but also where they specifically fall short.
source: Ezinearticle.com
1 comment:
Emma,
We appreciate your contribution to the benchmarking thought thread.
Sales Benchmark Index is a company who is solely focused on the application of the benchmarking discipline to sales.
We recently published a book through Portfolio Books called Making the Number -- which is all about internal and external benchmarking. Have you had a chance to read it?
Here is the site where you can order if interested -- www.makingthenumber.com.
Look forward to hearing from you.
Cheers,
Mike Drapeau
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