Question

Two types of benchmarking are ___________________________.

Answer 1

Answer:

Stand-alone and Competitive benchmarking

Explanation:

actually these are two types of bench marking

Answer 2

Types of benchmarking:

Benchmarking involves evaluating a system, process, product, or service's quality, performance, or efficiency against predetermined standards or industry best practices. It involves comparing the performance of one entity with another, either internally within an organization or externally with other organizations, to identify areas for improvement.

The two types of benchmarking are

Internal benchmarking:

This involves comparing different departments, processes, or teams within the same organization to identify best practices and areas for improvement. Internal benchmarking can help an organization identify opportunities to improve efficiency, productivity, and profitability by adopting the best practices of its own departments or teams.

External benchmarking:

This involves comparing an organization's performance against its competitors or other organizations in the same industry or sector. External benchmarking can help an organization identify areas where it is lagging behind its competitors. It can also provide insights into industry best practices and help organizations stay competitive.

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