Discussion: The Purpose of Benchmarking

Think about your current employer or a former employer within the context of benchmarking, and come up with ideas on how this process could be used to improve the firm’s performance.Identify a specific company that the firm could use to benchmark a process. You need to describe what process or processes the company would want to improve. Discuss how you would go about collecting data and how the results could be used to improve the company. Also, discuss at least one potential challenge with benchmarking.

Must be at least 3 paragraphs, and cite to references