THE ROLE AND İMPORTANCE OF BENCHMARKİNG İN İMPROVİNG ENERGY EFFİCİENCY

Abstract

The relevance of the selected study is related to the increase in energy efficiency and the expansion of the use of benchmarking technologies in this area. Based on this, the article explores the principles and strategies of benchmarking, substantiates its role and importance in improving energy efficiency. It is shown that benchmarking is a powerful tool for business development with reference to technologies and advanced knowledge used by competitors. Taking into account the growing importance of energy efficiency in the Republic of Azerbaijan, the article also focuses on relevant research in this area. Based on this, the article points out that the application of benchmarking in various sectors of the national economy, especially in energy-intensive industries, can be achieved with greater efficiency. Its wide application will lay the foundation for a sustainable entry and strengthening of small and medium-sized companies in the global market. Along with this, there is a need to improve the national standardization system with the widespread use of benchmarking in the country. In all these approaches, the benchmarking process should also be considered as part of the overall quality management system. Keywords: benchmarking, energy efficiency, competition, business processes.