Find it fascinating that many publications communicate the same or similar reason for a business seeking some sort of change intending to bring about improvement. Although many of these companies clearly have determined that they need to improve in some areas of their business, it is important to note that they still need to prepare an appropriate benchmark. That means that the company they decide to benchmark off of is just as important as the implementation of the benchmark to drive improvement. Some of the important factors when trying to ascertain the appropriate firm to use for benchmarking purposes are stability, long-term success and common customer base (Canada, 1993).
QUESTION: What other factors would you recommend companies look at when trying to narrow down best practice companies?
Reference style: Harvard style