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Benchmarking

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Issue:

Business

 

Written by:

Geraldine A

 

Date added:

July 4, 2016

 

Level:

University

 

Grade:

B

 

No of pages / words:

4 / 923

 

Was viewed:

4970 times

 

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Essay content:

I will say more in a thorough explanation of this decision making technique. I will elaborate on an example of how this technique could be applied to a problem. I will also talk about identification of the limitations and benefits of Benchmarking. Explanation of Benchmarking Benchmarking, as it is known today, was developed in the USA in the Seventies...
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In recent years, organizations such as government agencies, hospitals and universities have also discovered the value of benchmarking and are applying it to improve their processes and systems. In addition, industry associations now increasingly use the tool to improve sector-specific processes. Most recently, public authorities have begun to explore the use of benchmarking as a tool for improving policy implementation processes, by focusing on the framework conditions which underlie the business environment and the economy more generally...
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