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Analysis of Business Excellence Strategies of selected Global Organization:Learnings for India
The need to excel in business for companies cannot be emphasized more in the recent global scenario. The companies are moving on from quality focus to excellence focus. In fact they are focusing on becoming world class organizations. The question arises is how will corporations ‘know’ which quality parameters to focus on to improve quality and achieve business excellence. How should leaders and managers ‘motivate’ their teams to actually ‘make excellence happen’? One of the approaches is to study business practices used by successful and excellent companies. Now the question is how to identify the companies following best practices. This can be done by studying the corporations which use Business Excellence Models (BEM) and exhibited remarkable results. There are several excellence award Models in use like European Quality Award given by EFQM, Malcolm Baldrige award in USA and various others. Corporations adopt these models by aligning their strategy or work culture with an aim to win excellence awards and for self assessment. The research is based on the study and analyses of the best practices adopted by the five winners of EFQM Global Excellence Award, 2018 for achieving business excellence. The companies studied are Infineon Technologies Austria AG, Dubai Police, Tarsus Belediyesi (Municipality), Mini Assembly, Plant Oxford and Yangtze optical fibre and cable joint stock limited company (YOFC). The best practices adopted by these organizations were studied separately for each of the organizations and a comparative analysis was done to identify the overall strategies adopted by these organizations for excelling in their domain. The results of the research will highlight the aspects which are most important for enterprises to excel and improve their quality. Indian managers can take cues from the research to analyze the shortfalls of their organizations and identify the areas for improvement. The findings can also be utilized by academicians, organizational performance coaches, learning organizations etc.
Business Excellence, CII-EXIM Bank Award for Business Excellence, EFQM model.
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