Definition
Programs that help nonprofit organizations, small businesses and other groups conduct a formal study which allows them to compare their effectiveness in achieving their mission to that of successful organizations within the same industry or another using reference points (benchmarks) which are widely understood to embody a standard of excellence for a particular business process or service. Benchmarks are measurable achievements which can be used for goal setting or to compare performances between similar organizations. Benchmarking allows organizations to demonstrate their efficiency, if the comparisons are favorable, or to systematically identify and adapt or adopt the successful business practices of other organizations to improve their own performance.
URL Name
TP-6500-1800-100
Third Level Code
TP-6500
Taxonomy Code
TP-6500.1800-100
Parent Code
TP-6500.1800
Family Code
T
Second Level Code
TP
Fifth Level Code
TP-6500-1800-100
Fourth Level Code
TP-6500-1800
Use References
Baselining
Publication Status
Draft