The role of benchmarking in best practice management and knowledge sharing

Developing best practice through benchmarking features as a critical activity in the business world as it is a vital approach for sharing and transferring knowledge. Companies across the globe have embraced these concepts but have done so with a varied level of success. Some have managed to create huge marketplace advantages whilst others have fared less favorably. The purpose of this research is to establish the level of benchmarking activity and application globally. The information gathered included both the hard and soft issues associated with benchmarking and following analysis, attempted to evaluate the level of benchmarking maturity reached across different industry fields and size of operation. This global survey helps understand what leads to effective benchmarking and development of best practices.