Discuss increased competition and improved problem solving skills as they relate to benchmarking

Increased competition and improved problem solving skills are two benefits of benchmarking. Benchmarking helps companies become more competitive in their markets by examining what competitors do in relation to organization practices. Once these differences are determined, the organization will be in a better position to make changes that will help make the organization more competitive. Benchmarking also increases problem-solving skills among employees in the organization by providing a framework in which to operate more effectively. An increase in problem solving ability should promote teamwork within the organization, which is critical to not only benchmarking, but to total quality control.