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4 types of benchmarking of critical success factors.

The Benchmarking is of following types:
(i) Competitive benchmarking: It involves the comparison of competitors products, processes and business results with own.
(ii) Strategic benchmarking: It is similar to the process benchmarking in nature but differs in its scope and depth.
(iii) Global benchmarking: It is a benchmarking through which distinction in international culture, business processes and trade practices across companies are bridged and their ramification for business process improvement are understood and utilized.
(iv) Process benchmarking: It involves the comparison of an organisation critical business processes and operations against best practice organization that performs similar work or deliver similar services.
(v) Functional Benchmarking or Generic Benchmarking: This type of benchmarking is used when organisations look to benchmark with partners drawn from different business sectors or areas of activity to find ways of improving similar functions or work processes.
(vi) Internal Benchmarking: It involves seeking partners from within the same organization, for example, from business units located in different areas.
(vii) External Benchmarking: It involves seeking help of outside organisations that are known to be best in class. External benchmarking provides opportunities of learning from those who are at the leading edge, although it must be remembered that not every best practice solution can be transferred to others.
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