Benchmarking

Benchmarking :

In the automobile industry ,benchmarking is the structured comparison between similar products, services, or processes on some dimensions of performance. It is the comparison of something which is already present in the market, how we can implement the positive aspects of other company's products onto our product while removing all the negative aspects from our product and improving its standard inorder to have demand in the market.

It is particularly useful when comparing not only performance but also practice, in other words what do the different organizations do to enable that performance to be delivered.