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standard or a set of standard used as a point of reference for evaluating performance or level of quality.benchmarks may be drawn from a firm’s own experience,from the experience of other firm in the industry ,or from legal requirement such as environmental regulation.
Statement formation:
Tcs and hcl companies benchmark their poducts and prices with one another.
Benchmark
The performance of a predetermined set of securities, used for comparison purposes. Such sets may be based on published indexes or may be customized to suit an investment strategyA measurement of the qualityof an organization’s policies, products, programs, strategies, etc., and their comparison withstandardmeasurements, or similar measurements of its peers.The objectives of benchmarking are (1) to determine what and whereimprovementsare called for, (2) toanalyzehow other
organizationsachievetheirhighperformancelevels, and (3) to use thisinformationtoimproveperformance.Benchmark is comparing the best companies standard, polices,strategy with themselves.
eg. Students has to benchmark their performance (with best b schools)
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