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Abstract
This paper explores the many aspects of benchmarking through extensive research conducted
from peer-reviewed journals, text-books, and online resources. Specific research topics include
the definition and benefits of benchmarking; the steps and processes involved; examples of
benchmarking, the history of benchmarking; advantages and disadvantages of benchmarking,
different types of benchmarking, some significant research outcomes; and the challenges and
costs of benchmarking relevant to todays industries.
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