Original Research

The extent of benchmarking in the South African financial sector

W Vermeulen
South African Journal of Economic and Management Sciences | Vol 9, No 3 | a1090 | DOI: https://doi.org/10.4102/sajems.v9i3.1090 | © 2014 W Vermeulen | This work is licensed under CC Attribution 4.0
Submitted: 05 June 2014 | Published: 05 June 2014

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W Vermeulen, Central University of Technology

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Abstract

Benchmarking is the process of identifying, understanding and adapting outstanding practices from within the organisation or from other businesses, to help improve performance. The importance of benchmarking as an enabler of business excellence has necessitated an in-depth investigation into the current state of benchmarking in South Africa. This research project highlights the fact that respondents realise the importance of benchmarking, but that various problems hinder the effective implementation of benchmarking. Based on the research findings, recommendations for achieving success are suggested. 

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