Sustainability is every business’ ultimate goal. Although the day-to-day routine is the business’ focus, its processes are tied to a long-term goal that is business sustainability.
How organizations can achieve it depends on its core process. It is the “how” that runs the business. A strategy plan can make or break a business.
Strategy plans cover every aspect of an organization, from leadership, operation, workforce engagement, and customer management. From there, efficiency can be determined through systematic, evidence-based criteria for measuring performance in concerned aspects of the business.
Before you take further steps to improve your strategies, it pays to know first where you currently stand in your pursuit of excellence. This strategy is called assessment. It lets your core team look at the following aspects of your organization
- key objectives and supporting actions
- overall performance
- customer perception
- employee perception
For businesses without a strategy plan in place, this step will let them realize it.
Organizations use or adopt models for management and results, an expert from Core Values Partners explains. When using a chosen model, they can fit their own strategies or use these models as a strategy itself. Either way, these have to be applied via the core values and principles that these models promote.
Business Excellence Model
Performance results equate with excellence, the key ingredient to achieving sustainability. Many highest performing organizations in the world adopt/develop business excellence models that govern their practices, values, and overall culture.
What are business excellence models then? These are frameworks that organizations can apply for more focused goals and processes. Through a systematic and structured manner, these should lead to an improvement in performance.
Business excellence models exist worldwide. The United States and New Zealand and 25 more countries have the Baldrige model. Europe has the European Foundation for Management Quality (EFQM), Japan has the Japan Quality Model and Australia has the Australian Business Excellence Framework.
These models may have slight variations but share major components. They are founded on the concepts of excellence and aim for sustainability above all. Consulting the right people can help implement these models, including assessment.