BENCHMARKING GLOBAL DIMENSIONS

Benchmarking & Global Dimensions

Benchmarking & Global Dimensions

Introduction

Organizations use a variety of measurements to evaluate business performance, such as revenue, stock price, voluntary attrition, or employee attitude survey results. Comparing these measures to relevant benchmarks provides decision makers with a standard that can be used to interpret the organization's standing and draw meaningful conclusions. The standard, target, or benchmark can be derived from internal organizational data or from data external to the organization (Johnson, 2005). Benchmarking databases are similar to normative data used in clinical psychological testing to establish parameters for normal and abnormal results. Although benchmarking commonly uses numeric ...