Managerial and financial performance approached by business excellence model

Abstract

In the current context of globalization, organizations look for new and different ways to become more effective and efficient. Organizations that consistently apply the criteria of performance and efficiency, are focused on continuous quality improvement and customer satisfaction. European Foundation for Quality Management-EFQM brings together European organizations involved in the pursuit of excellence, which have adopted a Joint Model of Excellence, as a strategic tool for general management of the company. Their fundamental objective is to become leaders in their field and get excellent results. The EFQM Excellence Model allows an integrative approach to the quality management, which includes: business results, customer orientation, information management, employee satisfaction. The EFQM Excellence Model allows companies to create measurable benefits by using TQM as an organizational tool. It was entered in the early 1990s in order to serve as a framework for the accession of the organizations in the European Quality Award. Nowadays it is the most widely used organized model in Europe, underlying the majority of national and regional Quality Awards, including the Romanian Quality Award JM Juran. The model is based on the following premise: Leadership build the company's Policy and Strategy, and these are implemented through People, Partnerships, Resources and Processes, to obtain Excellent Results, both in key performance areas, as well as on Clients, Staff and Impact on Society.