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Essay text:
The new economy values one thing above all else: knowledge - the currency of the new millennium.
Knowledge comes in many forms. One such form is the knowledge that is distilled from comparing one organization's performance against another's in order to gather critical information about business processes, risks and controls, and develop metrics by which to improve performance. In a word, benchmarking.
Benchmarking is well suited to the new economy, an economy which requires that successful companies create value in new ways, namely by recognizing that competitiveness now demands emphasis on both tangible and non-tangible assets...
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