Benchmarks

Benchmarks (Benchmark) - Baldrige Glossary Definition

(Baldrige Glossary for Business, Government (Public Sector) and other Nonprofit

The term 'Benchmarks' was first introduced in the Baldrige Glossary in 2001.

Benchmarks (Benchmark)

The term “benchmarks” refers to processes and results that represent best practices and performance for similar activities, inside or outside an organization’s industry. Organizations engage in benchmarking to understand the current dimensions of world-class performance and to achieve discontinuous (non-incremental) or “breakthrough” improvement.

Benchmarks are one form of comparative data. Other comparative data organizations might use include industry data collected by a third party (frequently industry averages), data on competitors’ performance, and  comparisons with similar organizations that are in the same geographic area or that provide similar products and services in other geographic areas.

Note: Blue words above are hyperlinks to other Integrated Glossary terms.

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Baldrige Glossary - Benchmarks