Moonshots
Summary
Similar to Matt Matt Shlosberg's comments on companies following industry best practices i.e., "I copy because I am unable to innovate", the same holds true for industry benchmarks. Groups of companies that "benchmark" themselves against each other then strive to be slightly better don't move the needle much at all. They essentially strive for mediocrity.
June 9, 2010 at 6:54am
Patrick,
You are right. "Benchmarking" is usually an excuse for either mediocrity or "I have no idea what I should do, let's start somewhere and give it a fancy name - benchmark."
Good point!
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