Abstract

The term benchmarking refers to a systematic, quantitative comparison between one or more key aspects of an organization and a referent considered the best example of that type of organization. Its purpose is to enhance the organization’s own performance and competitiveness. Well utilized, benchmarking can contribute decisively to a firm’s reputation by improving the quality of products and services—normally the most important driver of corporate reputation—as well as other relevant reputational drivers, such as innovativeness, a committed workforce, a well-tuned strategy, sound leadership, and a socially responsible governance structure.