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In the flash cards you identify the 4 types of benchmarking as:
– internal
– external
– functional
– genericHowever, in the notes you mention:
– historical
– industry / sector
– best-in-classAnd in the course notes you also say that the following factors can be benchmarked:
– functional
– product
– financial
– strategicYou also mention intra-group and intra-industry benchmarking in the notes.
Which is correct please?
Thanks
They are all correct. Benchmarking really just means comparison and there are all sorts of factors or classifications of factors that can be benchmarked.
For example best-in-class could apply to an industry or a function.
To save you having to remember lots, I suggest you remember internal/external/functional/generic.
Although listed as a P3 article it is very relevant to P5 (and was once listed there also)
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