Benchmarking: Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. It was begun in the late 1970s by Xerox Corporation. That time, Xerox was losing market share and feeling a lot of pressure from its competitors. In an attempt to try and “get back into the game”, Xerox decided to … [Read more...] about Benchmarking Definition and Understanding the Purpose