BE refers to the comprehensive and systematic management approach that organizations adopt to achieve outstanding performance and sustained success. It involves set of principles and strategies that focus on continuous improvement, innovation, efficiency to create value for stakeholders (customers, employees, investors, and society).
Published in Chapter:
The New Wave in Business Management: Evolution of Business Excellence Models and Determination of Future Directions
Zeynep Tuğçe Kalender (Marmara University, Turkey & Czech Technical University in Prague, Czech Republic) and
Miroslav Zilka (Czech Technical University in Prague, Czech Republic)
Copyright: © 2024
|Pages: 32
DOI: 10.4018/979-8-3693-1155-4.ch001
Abstract
Companies use strategic management models more than ever to maintain a competitive edge. One of the major problems is how to create and maintain high performance, thus ensuring long-term profitability and sustainability. The business excellence models (BEMs) provide the definition of basic strategic competencies that will provide sustainable competitive advantage through self-assessment. However, considering today's circumstances, re-evaluation of these models becomes a must. In this study, firstly development of BEMs and their changes over the years are examined. The main purpose of this comprehensive analysis is not only to provide an updated overview of existing studies but above all to emphasize what type of changes are necessary considering new trends. In this respect, models are compared both among their different versions based on criteria weights and with each other based on emerging trends. Then, in accordance with the literature review, collected metadata, and comparisons, new requirements are presented.