In: Economics
How do I reflect on the Baldrige principle?
Baldrige was a straight-talking cowboy who understood how corporations could improve productivity by concentrating on customers. It was the innate, good business intuition the catapulted a ranch hand and rodeo star a Professional Rodeo Man of the Year who was inducted as one of the most esteemed trade secretaries in American history in the National Cowboy Hall of Fame.
The principles he advocated for innovation management, entrepreneurship, customer-driven excellence, integrity, visionary leadership, value creation, agility, corporate responsibility and a focus on the future became known as the Baldrige Principles.
All focused on the values Baldrige believed in, and put both confidence and trust in him. Not only do a multitude of American companies have to compete with each other, they're in competition with the world. They need every edge, every advantage to succeed. They have to follow the Baldrige Values and implement them.
The act provides the basis for excellence in efficiency, management, standards of organization, and continuous improvement. It contributed to the creation of the Malcolm Baldrige National Quality Award by Congress, an award that remains, to this day, the highest honor of the country to recognize excellence in innovation and performance among U.S. companies.