Good management through business excellence
The adoption of the business excellence framework encourages good management practices. It enables organisations to progressively achieve higher standards of excellence through developing and strengthening management systems and processes to deliver superior results for stakeholders.
The framework provides a roadmap for continuous improvement and sustainable development.
Benefits of Adopting the Business Excellence Framework
a. Health Check
The business excellence framework assessment tool allows an organisation to do regular health checks of its management systems and processes. The health checks help the organisation not only identify its strengths, but also areas for improvement so that it can take actions to continuously improve.
b. Improved business performance
An National University of Singapore (NUS) study showed that organisations on the business excellence journey e.g. Singapore Quality Class (SQC) organisations and Singapore Quality Award (SQA) winners have consistently outperformed their industry counterparts by an average of 50% in terms of sales growth over a five-year period.
c. Recognition
Organisations can achieve a
business excellence certification for commendable levels of performance on a specific BE standard. Organisations which demonstrate outstanding performance on a standard can participate in the annual
business excellence awards. These recognitions demonstrate the organisation’s commitment to excellence and help it gain competitive advantage.
d. Access to Best Practices
Certified organisations can have access to best practice resources and opportunities to improve business performance, such as :
- Access the Business Performance Improvement Resource (BPIR) developed by the Centre for Organisational Excellence Research, Massey University, New Zealand
- Participate in regular best practice seminars, workshops and learning journeys
- Nominate key staff to be appointed as business excellence assessors. Assessors participate in assessments of other organisations and therefore gain opportunities to learn best practices.