The best benchmark is the competition, not the plan
Jules Goddard and Tony Eccles
"The real profit ultimately earned from a business is simply the realisation of relative advantage" – Kenneth Simmonds
How much value does a business need to add for this to count as a success? Performance is always relative – but relative to what? If we are to know whether performance is good or bad, improving or deteriorating, accelerating or decelerating, we need a standard of comparison. So with what benchmark or index should a business compare its results and its added value?
Traditionally, companies...