The Utilization of Benchmarking in the Jordanian Banking Sector

Abstract

This paper aims to investigate and highlight the impact of utilizing benchmarking in the Jordanian banking sector. The literature and previous studies examined the benchmarking in different environments and circumstances. A questionnaire survey was used to obtain information about Benchmarking practices and overall business performance from 12 different commercial banks in Jordan. That data was used to examine the effects of Benchmarking practices on the development and performance of these banks. Benchmarking is an effective managerial tool to help managers make sound and fast organizational plans, it leads to customer satisfaction, and it significantly related to the quality of services and performance.