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The essence of benchmarking is the continuous process of comparing a company’s stratergy, product and SOP. With those of the world leaders and best in class organizations. The purpose is to learn how the achieved excellence and then setting out to match and even surpass it. Thejustification lies partly in the question: “Why reinvent the wheel if I can learn from someone who has already done it?” However, Benchmarking is not a panacea that can replace all other quality efforts or management processes.
