The strictest form of benchmarking is assessing a firm's performance against the most innovative firms in other industries anywhere in the world.

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This approach, known as "best-in-class" or "best practice" benchmarking, involves comparing a firm's processes and performance metrics to those of industry leaders, regardless of the industry, to identify areas of improvement and innovation.

The Strictest Form of Benchmarking Is Assessing a Firm's Performance