Benchmarking is a continuous, systematic procedure that measures a firm's products, services, and processes against those of industry leaders.

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Benchmarking is a continuous and systematic procedure used to compare a firm's products, services, and processes against the best practices and performance measures of the industry leaders. The purpose of benchmarking is to identify areas where a company can improve its performance and competitiveness by adopting best practices and strategies used by other successful companies in the industry.

Benchmarking Is a Continuous, Systematic Procedure That Measures a Firm's