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Thursday, February 14, 2013

Business Excellence For Regional Competitiveness

Business Excellence Quality Awards have in recent years gained popularity within the region, often championed by national bodies to promote quality and best business practices. Whilst the awards themselves are secondary in importance to the prevalent adoption of the business excellence concept, the ultimate aim is to improve national economic performance as a whole.

The most popular Business Excellence model in the world is the Malcolm Baldrige Award. This was first introduced by the US government in 1987. It represents the use of quality management principles and tools in business management to realize systematic enhancement of business performance, based on the principles of customer focus, stakeholder value and process management.

The majority of organizations use these models to identify improvement opportunities and ideas for future organizational development. For example, users of the European Foundation for Quality Management (EFQM) Excellence Model do so for multiple of reasons; including self-assessment, strategy development and business management.

Business Excellence Assessment

In a dynamic and hyper-competitive environment, businesses are required to adapt and align themselves quickly. While organizations like to believe that they can improve in all areas, the reality is often that choices need to be made. Selecting one area often involves sacrificing improvements efforts in another. Choices made can be done proactively or forced onto the organization as a result of circumstance.

The organization's future should be decided by its leadership. The five dimensions framework presented in this article may be used as tool to conduct a holistic review of the business, identifying broad areas for improvement. The five dimensions are:

   1. Leadership excellence
   2. Strategy and structure
   3. Human capital optimization
   4. Process and innovation management
   5. Marketing and Business excellence

A Top Home Business Excels

The hustle and bustle involved in the rat race to making money is a never ending game. Getting out of this seems impossible at times but not for those people who're dreaming of making a living in an absolutely different way. Human being by nature is meant to be free and that is one reason that he is driven impulsively to fend independently for himself without being dominated by anyone. Thousands of Americans spend hours in commuting from home to work and back. While energy is dissipated during the process unproductively, a lot of people have wisely chosen a home based business where a lot of time and money is saved.

Life is a chance given to everyone to live to the fullest. It so happens that a lot of people spend hours in making money and trying to acquire things that they miss out on the best things in life, like their family, children, passions and interests. This is one reason why they should consider a home based business. A top home business has many advantages from different points of view when compared to a regular job or business. Some of them could be real eye openers for people who've been a part of the routine struggle of going elsewhere to earn a living.

Thursday, December 20, 2012

Business Excellence in the Automotive Industry

Business excellence is an ideal that all good entrepreneurs strive to achieve.  In fact, many organizations are devoted to honoring those businesses that best exemplify this concept.  However, business excellence cannot be strictly defined.  Rather, it varies from one industry to another.  For example, in the automotive industry, business excellence includes customer commitment, quality control, efficient supply, and innovative management.

Leaders in the automotive industry understand the need to form a strong bond with customers.  Perhaps more than other sectors, consumers are more likely to make a decision regarding an automobile purchase based upon their experience with those in the industry.  Thus, entrepreneurs need to be concerned with two key features relating to customer commitment.  The first is meeting the needs of the consumer, financially and socially.  People need automobiles that meet their economic means.  This not only means getting a good initial purchase price, but also finding a vehicle that will require minimal repair and maintenance down the road.  Consumers also want to purchase automobiles that will not require excess money to be spent on fuel.  Therefore, business excellence includes finding more cost-efficient production and distribution processes, and subsequently passing these savings on to the consumer.