Evolving benchmarking practices: a review for research perspectives

Purpose – The purpose of this study is to review a major section of the literature on benchmarking practices in order to achieve better perspectives for emerging benchmarking research streams. Design/methodology/approach – The paper examines the benchmarking literature and presents a framework that suggests evolving patterns of firms' benchmarking practices. This paper examines the studies published in Benchmarking: An International Journal and other articles related to benchmarking practices in major Strategic Management, OM/SCM, and Technology Management journals from 2001 to 2010. Findings – Benchmarking remains an important strategic tool of business in turbulent times. Five research dimensions for benchmarking are discussed in terms of the following: strategy‐based benchmarking; operational effectiveness‐based benchmarking; technical efficiency‐based benchmarking; and micro‐macro integrative benchmarking. For sustainable competitive advantage, benchmarking goes beyond the operational level and moves into a wide range of value chain, strategic, operational, and project levels. Research limitations/implications – The study contributes to the benchmarking literature by identifying key areas of benchmarking. It reflects a qualitative orientation, but future research may achieve a more systematic and quantitative analysis of the benchmarking literature. Originality/value – This review paper is unique in that it examines the benchmarking literature and summarizes the results in order to gain a proper understanding of benchmarking and provide perspectives for future research.