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In: Finance

What is EFQM excellence model? (200 words)

What is EFQM excellence model? (200 words)

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Expert Solution

Whilst there are numerous management tools and techniques commonly used, the EFQM Excellence Model provides an holistic view of the organisation and it can be used to determine how these different methods fit together and complement each other. The Model can therefore be used in conjunction with any number of these tools, based on the needs and function of the organisation, as an overarching framework for developing sustainable excellence.

Excellent organisations achieve and sustain outstanding levels of performance that meet or exceed the expectations of all their stakeholders. The EFQM Excellence Model allows people to understand the cause and effect relationships between what their organisation does and the Results it achieves.

All organisations strive to be successful, some fail, some achieve periods of success but ultimately fade from view, and a few achieve sustainable success, gaining deserved respect and admiration. The EFQM Foundation was formed to recognise and promote sustainable success and to provide guidance to those seeking to achieve it. This is realised through a set of three integrated components which comprise the EFQM Excellence Model :

-The Fundamental Concepts of Excellence
-The Model Criteria
-The RADAR Logic


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