Often practiced, it can be highly misleading to base the organization’s performance standards relative only to internally identified best practice methods and characteristics. While at times the organization’s performance does represent the highest standard, it is more likely that individual activities are performed more effectively and efficiently by other organizations, particularly those seeking to improve performance in an effort to compete with perceived industry leaders. Top performers recognize this trap and augment their internal search for effective performance with an outward examination of other relevant businesses.
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The following StrategyDriven recommended best practice is designed to support introduction of external performance information to the business performance assessment process: