In the business world, benchmarking has been used for quite some time and is taking on increasing importance. Benchmarking is a process in which products, services and practices are measured and compared against the strongest competitor, considered to be the best-performing leading organisation in the relevant area. In business, continual search for strengths and weaknesses and exploitation of untapped potential are seen as key success factors for achieving quality and sustainable competitiveness.

Benchmarking helps to look consistently and purposefully for new ideas, effective methods, procedures and processes outside your own institution, to push for internal improvement and innovation. Thus, benchmarking focuses on development of your own organisation.

Box 27. Questions for reflection and options for further action