List two benefits of benchmarking

List two benefits of benchmarking? (0.5 mark) Gain an independent perspective about how well you perform compared to other companies. Drill down into performance gaps to identify areas for improvement. Develop a standardized set of processes and metrics. Enable a mindset and culture of continuous improvement.

• Gain an independent perspective about how well you perform compared to other companies.
• Drill down into performance gaps to identify areas for improvement.
• Develop a standardized set of processes and metrics.
• Enable a mindset and culture of continuous improvement.
• Set performance expectations.

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