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Business Excellence is “excellence” in strategies, business practices, and stakeholder-related performance results that have been validated by assessments using proven business excellence models. Business excellence models guide organisations towards sustainable world-class business results, and are based on business principles that have been proven to work. These business principles—or core concepts—are similar for most business excellence models; they are presented in the Expert Opinion section of this issue of the BPIR.com Management Brief series.
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The Stage
The first business excellence models were developed in the mid-1980s and came about as a result of the quality movement in the West, which in turn was a response to the advancements in quality and competitiveness in Japan. The models themselves began as quality award or Total Quality Management (TQM) models, as TQM had emerged in the mid-1980s as the new philosophy and panacea for businesses. Over time, the term “Business Excellence” started to replace the terms “Quality” and “TQM”, partly as a result of the considerable confusion as to the meaning of TQM, since all types of business improvement programmes were being called TQM1. Today, many countries view business excellence models as a key mechanism for improving the performance of organisations, as well as national competitiveness.
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Management Briefs...
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Ethical Business Practices |
The manner in which an organisation approaches its interactions with internal and external stakeholders based on its shared system of moral, social, and behavioural standards, values, goals, priorities, beliefs, symbols, and assumptions. How a company goes about doing business, what kind or relationships it builds, and what kind of conduct is expected from employees.
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