With rapid change in marketplace and ever-increasing competition in today's business environment, organizations are looking for every opportunity to improve their business results. To be competitive to sustain growth, the organization lays firm approach to drive performance and attain higher levels of efficiency. The business excellence model is a tool, which has a set of criteria using which the organization can improve performance on the critical factors that can drive their business to success.
The criteria provides a framework for performance excellence and helps the organization to assess and measure performance on a wide range of key business indicators like - customer, product and service, operational, and financial.
This allows the organization to carry out a self assessment on the business performance and allows to identify strengths and to target areas for “opportunities for improvement” on processes and results affecting all key stakeholders – including customers, employees, owners, suppliers, and the public.
The criteria also helps the organization to align its resources, productivity, effectiveness, and achieve the goals. In short, Business excellence model is:
• A comprehensive coverage of strategy-driven performance
• Focuses on the needs, expectations and satisfaction of all stakeholders
• Examines all processes that are essential in achieving business excellence
• Is a framework to assess and enhance business excellence
• Continuous improvement of organizational overall performance and capabilities.
• Delivering ever-improving value to customers, resulting in marketplace success.
• Understanding the business and analyzing in areas like - leadership, strategy, customer, market, information & data, knowledge sharing, HR, production processes, and the results.
• Framework for excellence through values, processes, and outcome. In the model, they call it as “Approach”, “deployment” and “results”
• It is not a prescriptive model.
• It asks questions, but does not provide solutions.
Organizations also uses “Balanced score card” as performance measurement system. This is again a framework, which enables to translate the organizations vision & strategy in to coherent set of performance and measures.
Although, there are many excellence models available, you can refer to “Malcolm Baldrige National Quality Award” model. Tata Business excellence model is based on this.
Also read articles on balanced score card by – Robert Kaplan and David Norton.
You need more on this subject, mail to
nandish
CII - Exim or EFQM
