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Benchmarking: A Method to Improve the Entity's Performance and Change Process

Benchmarking: A Method to Improve the Entity's Performance and Change Process
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Author(s): Ana Maria Ifrim (Titu Maiorescu University, Romania), Alina Stanciu (1 Decembrie 1918 University, Romania), Monika Brigitte Sürgün (Valahia University, Romania) and Hrisanta Cristina Ungureanu (Valahia University, Romania)
Copyright: 2020
Pages: 13
Source title: Improving Business Performance Through Innovation in the Digital Economy
Source Author(s)/Editor(s): Ionica Oncioiu (Titu Maiorescu University, Romania)
DOI: 10.4018/978-1-7998-1005-6.ch012

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Abstract

Benchmarking is the process of comparing your own organization, operations, or processes with other organizations in the same industry or a wider market. This chapter intends to analyze the perspective of benchmarking in Romanian SMEs from the perspective of quality, cost, effectiveness, and customer satisfaction. The results show that for many Romanian organizations, benchmarking is still a little overlooked, on the one hand because of the lack of necessary financial resources, on the other hand, of a poor awareness of the importance of these investments in the medium and long term.

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