Benchmarking: a general reading for management practitioners

This paper aims at introducing benchmarking to management practitioners. Emphases have been placed on the classification of benchmarking and the benchmarking process model. The former will help in identifying the sources of best practices as a result of assisting in promoting management perspectives and facilitating the formation of various specific goals. The latter, on the other hand, systematically introduces all necessary components in a benchmarking project. Additionally, effort is put in to clarify the meaning of benchmarking by introducing three useful working definitions. Some materials of benchmarking, including its background and benefits, are also given. Finally, some hints are provided to organizations that want to conduct first‐time benchmarking project.