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WHAT IS BUSINESS EXCELLENCE? | PYXIS

 

What is it?

The Criteria for Performance Excellence, or business excellence, is a framework used by organisations to lift their performance to world-class levels.

 

The Criteria consist of a set of values and seven categories developed from an extensive study of the world's leading organisations. The study analysed the practices and behaviours of these organisations in order to understand what factors made them excellent performers. These practices and behaviours appear as a common set of values that are displayed by all high performing organisations.

 

The Seven Categories in the Criteria are:

  1. Leadership
  2. Strategic Planning
  3. Customer Focus
  4. Measurement, Analysis, and Knowledge Management
  5. Workforce Focus
  6. Operations Focus
  7. Results

 

The Criteria are constantly reviewed and updated every second year.

 

Why is this important?

The fast-paced, competitive market today means organisations must be constantly changing to improve themselves in everything that they do in order to satisfy ever-increasing customer demands. The business environment has changed radically causing most organisations to review every aspect of their organisation.

Among the most significant challenges are;

  • Globalisation. Where planning needs to account for increased global competition, the strengthening of strategic alliances, the improvement of supply chains and manufacturing at multiple locations in many countries - with the internet reshaping our business and personal lives
  • Improving knowledge management. Where the workforce management needs to consider how to acquire the new knowledge necessary to run the organisation while focussing on how to engage the workforce
  • Cost and cycle time reduction. Where the continuous improvement of key processes used to deliver products and services of value to customers is essential to maintain a viable business
  • Speed. Where only the most agile organisations that are prepared to respond rapidly to new customer requirements and the changing regulatory environment will survive

 

What benefits can I expect?

By using the model to improve your organisation you can over time expect improved profitability as a direct outcome from factors including

  • More engaged employees
  • Higher operating efficiency
  • Greater customer satisfaction
  • Increased market share

 

A study conducted by Kevin Hendricks and Vinod Singhal concluded that if you invested in those US organisations that have used these Criteria to achieve an award level of excellence over the period 1990 - 1999, then your return would have outperformed the Standard and Poors 500 by 4.4 to 1.

 

How do organisations use the Criteria?

The Criteria are used in a variety of ways within organisations. These include

  • Organisational self assessment
  • Strategic planning
  • Employee training and development
  • Continuous improvement
  • As the basis for National Awards and other awards programmes

 

Why do organisations use the Criteria?

Organisations use the Criteria for a wide variety of reasons, including to

  • Help create a world class organisation
  • Improve financial performance
  • Increase market share
  • Improve employee relations
  • Build a sustainable long term viable business
  • Gain recognition of achievement through Quality Awards

 

Where can I find out more?

If you wish to find out more about the Criteria, or how the Criteria could be applied to your organisation, then contact us at PYXIS.

 

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The Criteria for Performance Excellence is used to analyse an organisation's performance, to compare and improve to an international level using the insight gained from the best organisations in the world. The Criteria is continually updated to ensure it represents worlds best practice.

 

The Criteria for Performance Excellence Video Series

1. Understanding the values of World Class Organisations - 12 minutes

 

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2. Understanding the Criteria Framework -   8 minutes

 

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