Benchmarking
/ˈbɛn(t)ʃˌmɑːrkɪŋ/
Definitions
- (n.) The process of comparing an organization’s methods, performance, and standards against those of others to identify best practices and improve efficiency.
The company conducted benchmarking to assess its compliance procedures against industry standards.
Forms
- benchmark
- benchmarked
- benchmarks
Related terms
See also
Commentary
In legal contexts, benchmarking often supports regulatory compliance and risk management by providing objective performance comparisons.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.