Why Success-Thread (5-STEPS-to-Excellence) is compatible with business excellence approaches such as the EFQM model
EFQM stands for European Foundation for Quality Management. The EFQM model is a holistic approach that enables organizations to assess their performance, make improvements and strive for continuous excellence.
In the EFQM model, this is the definition of the organization’s vision and mission as well as the identification of key objectives and strategies to achieve this vision and mission.
EFQM emphasizes the importance of considering all relevant stakeholders, including customers, employees, partners and society as a whole. The expectations of these stakeholders must be identified and taken into account in the organization’s strategic plan.
In the EFQM model, this includes the development of plans and strategies to achieve the defined goals, based on the expectations and needs of the stakeholders. This also includes consideration of resources, skills and potential risks.
This includes implementing plans and strategies, managing processes and monitoring performance to ensure that targets are met.
In the EFQM model, this includes assessing the organization’s performance using predefined metrics and benchmarks, reviewing stakeholder satisfaction and continuously improving processes and performance.
Overall, Success-Thread (5-STEPS-to-Excellence) supports the EFQM model by providing a clear and structured approach to achieving goals and improving performance. Both emphasize the importance of considering stakeholder expectations and the need for planning, implementation and review to ensure success.
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