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Business Excellence: Exploring Key Performance Indicators and Suitable Business Model


Affiliations
1 Rural Development & Social Entrepreneurship, Amity Business School, Amity University NOIDA, Uttar Pradesh, India
 

Business excellence or BE is a path to success for any enterprise that has started its new journey in this era of highly competitive market for almost any industry. It is a way to achieve a certain level of competitive advantage over other organisations. But what could be done in times of economic crisis. Some of the industry experts believe that if the organisation stopped considering a time of recession as a crisis and instead as an exploiting opportunity, it not only helps the organisation to survive but also strengthen their position in the industry. The crux of the matter would be to somehow come up with an effective improvement in the strategic plan that would not only help in satisfying the customer and stakeholders but will also help the organisation in overcoming the economic crisis factor. And to work towards this target there should be high involvement of the management and optimum level of use of all the human resources.

The business community or the top management can use the results of this research to achieve business excellence through strategic planning improvements and can withhold their stand in the industry. There has been not much research before connecting the strategic operational planning during the time of economic crisis.

The main takeaway of the study is to somehow save on the extra costs, improve business processes, sustain quality, and improve the level of performance of the staff and management. All of these could be easily achieved if the enterprise can effectively implement these operational business concepts in their own business: Total Quality Management (TQM), Six Sigma and Lean manufacturing system.


Keywords

Business Excellence, Total Quality Management (TQM), Six Sigma, Lean Manufacturing.
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  • Business Excellence: Exploring Key Performance Indicators and Suitable Business Model

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Authors

Ritesh Dwivedi
Rural Development & Social Entrepreneurship, Amity Business School, Amity University NOIDA, Uttar Pradesh, India

Abstract


Business excellence or BE is a path to success for any enterprise that has started its new journey in this era of highly competitive market for almost any industry. It is a way to achieve a certain level of competitive advantage over other organisations. But what could be done in times of economic crisis. Some of the industry experts believe that if the organisation stopped considering a time of recession as a crisis and instead as an exploiting opportunity, it not only helps the organisation to survive but also strengthen their position in the industry. The crux of the matter would be to somehow come up with an effective improvement in the strategic plan that would not only help in satisfying the customer and stakeholders but will also help the organisation in overcoming the economic crisis factor. And to work towards this target there should be high involvement of the management and optimum level of use of all the human resources.

The business community or the top management can use the results of this research to achieve business excellence through strategic planning improvements and can withhold their stand in the industry. There has been not much research before connecting the strategic operational planning during the time of economic crisis.

The main takeaway of the study is to somehow save on the extra costs, improve business processes, sustain quality, and improve the level of performance of the staff and management. All of these could be easily achieved if the enterprise can effectively implement these operational business concepts in their own business: Total Quality Management (TQM), Six Sigma and Lean manufacturing system.


Keywords


Business Excellence, Total Quality Management (TQM), Six Sigma, Lean Manufacturing.

References





DOI: https://doi.org/10.23862/kiit-parikalpana%2F2020%2Fv16%2Fi1-2%2F204560