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.

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APABarry Goldsmith. (2010). benchmarking. Retrieved September 24, 2018, from http://smartdefine.org/benchmarking/definitions/1148537
ChicagoBarry Goldsmith. 2010. "benchmarking" http://smartdefine.org/benchmarking/definitions/1148537 (accessed September 24, 2018).
HarvardBarry Goldsmith 2010, benchmarking, Smart Define, viewed 24 September, 2018, <http://smartdefine.org/benchmarking/definitions/1148537>.
MLABarry Goldsmith. "benchmarking" 21 October 2010. Web. 24 September 2018. <http://smartdefine.org/benchmarking/definitions/1148537>