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I will say more in a thorough explanation of this decision making technique. I will elaborate on an example of how this technique could be applied to a problem. I will also talk about identification of the limitations and benefits of Benchmarking.
Explanation of Benchmarking
Benchmarking, as it is known today, was developed in the USA in the Seventies. In recent years, organizations such as government agencies, hospitals and universities have also discovered the value of benchmarking and are applying it to improve their processes and systems. In addition, industry associations now increasingly use the tool to improve sector-specific processes...
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