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Many companies attempt to use benchmarking research to uncover hidden opportunities, implement best practices, and create a competitive advantage. Unfortunately, many companies fall short of their goals in these areas.
There is a close relationship between a company's strategic objectives and how they benchmark performance. However, for many companies, it is often unclear how these these two processes relate. At LNS Research we have developed a formal methodology for managing the Benchmarking processes to ensure consistent results will be achieved overtime.
In this post we are going to highlight the overall Methodology. In future posts we will dive down into the details of the individual sections.
To make this methodology more concrete, in future posts we will go through an example and conduct a deep dive into each of the 7 steps.
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