Probably there are as many different approaches to business excellence as there are businesses. However some basic elements like customer orientation, leadership, continuous improvement, process orientation, team work, strategic planning, public responsibility etc. are seen across the approaches adopted towards achieving sustainable excellence.
EFQM framework on business excellence also is based on certain fundamental concepts of excellence as shown below:
 - Result Orientation
- Customer focus
- Leadership & constancy of purpose
- Management by processes and facts
- People development & involvement
- Continuous learning innovation & improvement
- Partnership development
- Corporate social responsibility
Malcolm Baldridge award recognizes achievement in TQM by companies based in USA, and thus promotes TQM in USA.
A framework to achieve such an excellence is provided by European Foundation for Quality Management (EFQM), a body initially formed at the initiation of presidents of leading business organizations in Europe in 1988 with a mission to promote, and where possible to assist industry in the understanding and application of total quality principles. EFQM Excellence model was launched in 1991 along the lines of the Malcolm Baldridge in USA and Deming prize in Japan as both these awards had demonstrable improvements in the organizations that adopted them.
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