Business Excellence is defined simply as: An integrated collection of proven practices for how a business should operate to become the best it can possibly be – i.e. world class.
It is applicable to all businesses whether private or public, for-profit or not-for-profit and small or large. Of course it yields substantial net financial benefits.
Business Excellence involves improving customer outcomes and increasing productivity through the organisation’s key processes and is driven by organisational leadership and management.
More than just another “buzz phrase”, business excellence underpins any successful company’s strategy and growth.
If you want to take your business productivity and growth to new heights, you’ll need to implement a practical framework and proven approach for business excellence.
Despite the Simple Definition, the Confusion for SMEs / SMBs is Understandable
Other popular collections of proven practices advocated over the past 70 years include World Competitive Manufacturing, Just In Time, Best Practice, Total Quality Management (TQM), Six Sigma, Agile, Business Improvement, Process Improvement, Business Transformation and Lean Thinking. All of these overlap significantly with each other, and fit within the umbrella term ‘Business Excellence’. These are all partial solutions, not a complete solution for any business wishing to become the best it can possibly be in the shortest possible timeframe and at the lowest possible cost.
Not surprisingly, CEOs of SMEs / SMBs can get confused as to which methodology and language they should adopt.
Even within Business Excellence there are slight variations around the world regarding the fundamental criteria for success. For example, Singapore, Australia and the United States promote 7-8 assessment criteria for Business Excellence, whereas the Europeans promote 9 criteria.
Common Core of Business Excellence globally
Fortunately, all of the 80 or so active national Frameworks / Models have a common core.
This core may be summarised as 5 logical and memorable Prerequisites for SMEs / SMBs seeking a practical implementation approach that is easy to understand. Not surprisingly, the overriding driver of all 5 Prerequisites (see below) is Customer Delight for both internal and external customers.
- Process Design & Improvement
- Shared Strategic Direction
- Performance Measurement & Feedback
- Knowledge Capture & Leverage
- Leadership & Management of Change
Implementation of these Prerequisites in the right order maximises the return on investment. It eliminates the possibility of false starts and poorly focused efforts. To avoid much wasted effort, it is critical for these Prerequisites to become fully integrated with respect to each other as their implementation progresses.
Business Excellence Tailored to Suit SMEs / SMBs
The attainment of Business and Operational Excellence for small and medium sized businesses is now a reality with the My Business Excellence approach to excellence.
And the business case for its implementation in your business is compelling!