Benchmarking

During the 1980s, the idea of what a business is began to change. Many companies learned to see all business as a process, that is, a series of transactions that must respond to the needs of the consumer. And that set of activities, entrepreneurs understood, must be constantly improved by using the measurement and comparison process known as benchmarking. Benchmarking is a tool that serves to identify, compare and learn from those organizations recognized as the best in their class. For a successful implementation, it is necessary for the company to recognize the need to improve a process, as well as to identify opportunities for improvement in order to carry out the process. To be competitive a company must understand its competition, as well as question the way in which it carries out its activities, this is best done by adopting new ideas and practices from outside. In this way, an external search for information has proven to be a powerful approach to ensuring long-term competitiveness.