Best Practices, LLC Blog

Benchmarking is an essential business concept. Although benchmarking is the #1 most utilized global management tool, most companies actually fail to use it to their full advantage. There are many different ways to use benchmarks. Some of these are depicted in the chart below. Image

Best practice benchmarking is the process of seeking out & studying the best internal and external practices that produce superior performance in organizations. There are many benefits associated with benchmarking,including:

  • Improve of operational efficiency
  • Assist attainment of goals
  • Create ‘best-in-class’ performance
  • Build a roadmap for success by using proven best practices
  • Avoid pitfalls

CEO of Best Practices, LLC, Chris Bogan’s best-selling book,“Benchmarking for Best Practices: Winning through Innovative Adaptation”, describes benchmarking as the “blueprint for innovation and breakthrough performance improvements.” In chapter 1 Bogan states, “There’s a simple litmus test to determine benchmarking’s applicability to your organization. Ask yourself: Can my organization…

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