According to holpp and kelly, the benchmarking approach to developing a vision is the most externally focused.
Benchmarking is described as the ongoing, methodical practice of evaluating one's output and/or work methods against the most challenging competitors or those widely acknowledged as the best in the industry. Benchmarking is a strategy for establishing objectives and gauging productivity based on the best business practices. Benchmarking aids in performance improvement by teaching lessons from best practices and the methods used to implement them.
Utilizing benchmarking, a strategic management technique enables the organization to set objectives and gauge productivity using the best business practices. It is a method where things are assessed by comparison and the quality level is utilized as a point of reference.
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