For example, privately-held companies often keep their financial performance data confidential, making it challenging for other organizations to perform comparative benchmarking. It's important to note that using benchmarking in performance measurement and profitability assessment does not mean a business should aim to merely match the benchmark. The ultimate objective is to exceed these benchmarks and to continuously improve their own standards.
Previous Performance
In conclusion, benchmarking plays a pivotal role in steering companies toward better performance by providing highly valuable what is comprehensive income its income not yet realized comparative industry data. Its emphasis on continuous comparison and...