Benchmarking is based on a philosophy of continuous improvement, where everyone is encouraged to improve the way things are done. It provides a systematic way of studying business practices and learning from other organisations. Benchmarking can be internal (i.e. within the organisation) or external (within the same or different industries, with competitors or non-competitors). This Rapid Skill Builder Booklet on Benchmarking explains the process in a step-by-step manner and offers a practical action template that can be applied in almost any situation.