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Financial Management

Benchmarking compares services provided with those provided by other organizations. This technique can be applied at many levels from the system to the unit level. Review your textbook for a discussion on this topic and also visit the South University library for current articles on Benchmarking.?? After reading and reflecting on this information, post a response including your ideas on the following questions:

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Discuss how the nurse manager might use benchmarking to compare the unit with other departments in terms of productivity, budgeting, educational activities, and shared governance.

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How does benchmarking improve “team” performance?

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How does it promote healthy competition and unit pride?

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How can benchmarking be used in your plan of action?

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