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In an article about the benefits of benchmarking in rough times for economy, Marc J.Powers states "Once the drivers are identified and data are collected, it always amazes me how much a business owner does not know about his business".
Benchmarking is once more indicated as a tool to be employed on a regular basis for business owners to take better notice of the financial situation in bad times for economy.
The author emphatizes: "Managing the business checkbook is not enough anymore. Business owners must understand what drives cash flow, how best to employ their assets, what controls are in place to safeguard their assets, the integrity of their financial records and so on. The list for business owners becomes more complex each year"
Benchmarking can help a business evaluate its goals, says Powers, but it is a process of continual improvement. There are several benefits: understanding the goals will help understand where the profits are to be made and have a better picture of the financial situation. This leads to "customer and creditor leverage, freedom and wealth".
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