Competitive benchmarking examines the products, services and processes of competitors and then compares this information to a company's own internal operations data.  In making specific intra-industry comparisons, an organization gains information about common marketing practices, available work force, and suppliers. Companies can also assess its relative position in the marketplace.

With a healthy respect for one's competition, "joint benchmarking" represents an agreement between two or more organizations to share information on their practices.

Competitive benchmarking does not employ an "us against them" approach; there are mutual benefits to "joint benchmarking."  An example is the Telecommunications Benchmarking Consortium in which eighteen competitors have joined together to identify and benchmark common processes.

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