| Benchmarking is used in deciding what is the most | | | | used to make a final report. The report is shared |
| efficient way to handle a particular business process. | | | | with members of the organization. |
| The benchmarking of a particular process involves | | | | The term Best Practices is a misnomer. A better |
| participants who participate in the benchmarking | | | | term would be Good Practices. The metrics used to |
| study. The participants are large corporations, usually | | | | determine Best Practices only involve the Corporate |
| industry leaders. | | | | participants. The Companies are usually industry |
| The process of benchmarking is done by various | | | | leaders. The studies do not include all major |
| organizations. Their are large organizations that cover | | | | companies from each industry. |
| most all business processes. Some of the | | | | Presently no organization governs the benchmarking |
| benchmarking associations specialize in particular | | | | industry. Decision makers must use caution when |
| industries or certain types of processes. The size of | | | | attending benchmarking events. Some of these |
| the organization does not determine the actual value | | | | society's market their events using meeting you (the |
| of the results. The results of the benchmarking study | | | | corporate decision maker) as a major reason to |
| produce a "Best Practices" for a business process. | | | | attend. |
| Their is a framework used in to decide how to | | | | Make sure that the benchmarking society wants to |
| measure each individual process. The framework sets | | | | improve business processes. Using a simple |
| the metrics to be measured. The participants in the | | | | framework and a society that is not marketing you |
| study provide data. The data is analyzed. Then a | | | | the decision maker is important. |
| "Best Practices" is determined. The information is | | | | |