Enjoying the preview?
This is the free first lesson. Get full access — request a demo or sign in.
Benchmarking
Learn how to use benchmarking practices to drive return on investment (ROI)Preview the first lesson free — get full access to all 5 lessons.
Intermediate Provider : Erin Donovan 5 Lessons · 13m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
Competitive analysis, shopping at the business down the road, and peeking into the financials of competitors can all be included when making use of benchmarking. The most resilient businesses are those who learn from competitors, industry leaders, and disruptors. Leaders who drive change are leaders who understand the power and application of benchmarking practices. Whether your business is in its early stages or has already been successful, benchmarking allows the smart leader to review what they know and employ new concepts and processes that can take them to the next level. So, what is benchmarking, and why is it such a powerful force in creating sustainable change?
In this course on Benchmarking, you’ll learn how to apply the principles of benchmarking to build financial success, improve processes, and motivate employees. Benchmarking is a fundamental practice in any competitive-analysis program—and when used effectively, it can be an essential tool for both short- and long-term success. This course will provide a solid overview of benchmarking, explain the different types, and show how it can be used as a motivational tool.
What You'll Learn
- Define benchmarking and explain why it is a powerful tool for sustainable change
- Compare the different types of benchmarking and their applications
- Apply benchmarking practices to motivate employees
- Use benchmarking to build financial success and improve processes
- Recognize how competitive analysis fits within a benchmarking program
Key Takeaways
- Benchmarking can include competitive analysis, observing other businesses, and reviewing the financials of competitors.
- The most resilient businesses learn from competitors, industry leaders, and disruptors.
- Benchmarking helps leaders review what they know and adopt new concepts and processes to advance their business.
- Benchmarking is a fundamental practice in any competitive-analysis program and supports both short- and long-term success.
- Benchmarking can be applied to build financial success, improve processes, and motivate employees.
Frequently Asked Questions
What will I learn in this Benchmarking course?
You'll learn how to define benchmarking, compare the different types of benchmarking and their applications, and apply benchmarking practices to motivate employees. The course also shows how benchmarking can be used to build financial success and improve processes.
Who is this course for?
It is designed for leaders who want to drive change, whether their business is in its early stages or already successful, by understanding and applying benchmarking practices.
What topics does the course cover?
The course covers an introduction, what benchmarking is, the types of benchmarking, and using benchmarking to motivate employees, followed by a Test Your Knowledge section.
Does benchmarking apply only to struggling businesses?
No. Benchmarking allows the smart leader to review what they know and employ new concepts and processes whether the business is in its early stages or has already been successful.
Professional Certifications and Continuing Education Units (CEUs)
Society for Human Resource Management (SHRM®)
Professional Development Credits (PDCs): 0.25
KnowledgeCity is approved by SHRM as a Recertification General Provider to offer SHRM-CP or SHRM-SCP professional development credits (PDCs). By taking the courses approved by SHRM, KnowledgeCity can award SHRM Professional Development Credits (PDCs) for HR knowledge and competency programs related to the SHRM Body of Applied Skills and Knowledge™ (the SHRM BASK™).
