WHAT IS BUSINESS EXCELLENCE?
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:
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;
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
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
Why do organisations use the Criteria?
Organisations use the Criteria for a wide variety of reasons, including to
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