Benchmarking

2) Benchmarking is a process of measuring the performance of a company's products, services, or processes against those of another business considered to be the best in the industry.

This compares 4 CUVS about their Engine, Dimension, Transmission, Fuel Economy, Safety, and Price.

It is also referred to as "best practice benchmarking" or "process benchmarking", this process is used in management in which organizations evaluate various aspects of their operations in relation to best-practice companies' processes, usually within a peer group defined for the purposes of comparison. used in management in which organizations evaluate various aspects of their processes in relation to best practices, usually to increase some aspect of performance. Benchmarking may be a one-off event but is often treated as a continuous process in which organizations continually seek to improve their practices.

In project management, benchmarking can also support the selection, planning, and delivery of projects. In the process of best practice benchmarking, management identifies the best firms in their industry, or in another industry where similar processes exist, and competes results and processes of those studies to one own results and processes. In this way, they learn how well the targets perform and, more importantly, the business processes that explain why these firms are successful.