Benchmarking
This is the process where a company gathers data on similar companies for comparative purposes and to set goals.
This can be done from all sorts of aspects but the most common are industry, market sectors and size. Benchmarking can be about anything from profitability to export sales. As an example, submissions to many national tax departments about what is a reasonable transfer price for goods moving cross boarder within an entity are usually based solely on benchmark comparratives.
Its the best way to try and understand what is both reasonable and achievable.
There are many books on this topic but this appears to be the top seller:
Available from Amazon.com
Also available at Amazon.co.uk
This can be done from all sorts of aspects but the most common are industry, market sectors and size. Benchmarking can be about anything from profitability to export sales. As an example, submissions to many national tax departments about what is a reasonable transfer price for goods moving cross boarder within an entity are usually based solely on benchmark comparratives.
Its the best way to try and understand what is both reasonable and achievable.
There are many books on this topic but this appears to be the top seller:
Available from Amazon.com
Also available at Amazon.co.uk
