What is the meaning of Benchmarking?

Benchmarking is a company's use of information about other firms in the same industry used for comparisons and to set standards and goals.

Barry Goldsmith
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APABarry Goldsmith. (2010). benchmarking. Retrieved September 20, 2026, from http://smartdefine.org/benchmarking/definitions/1148537
ChicagoBarry Goldsmith. 2010. "benchmarking" http://smartdefine.org/benchmarking/definitions/1148537 (accessed September 20, 2026).
HarvardBarry Goldsmith 2010, benchmarking, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/benchmarking/definitions/1148537>.
MLABarry Goldsmith. "benchmarking" 21 October 2010. Web. 20 September 2026. <http://smartdefine.org/benchmarking/definitions/1148537>