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In Singapore, benchmarking is taken very seriously, because it is needs driven, and not reward oriented as it is in many African countries. [iStockphoto]
International benchmarking is a common management practice, designed to enable one company or organisation to compare itself to another in terms of management practices or performance.
Commonly, benchmarking is associated with so-called 'study tours', in which a group of managers or policymakers visit another country in order to learn from their peers in that country.
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