Criteria for Excellence in Business

Abstract

Abstract In this paper we address business excellence, the significant elements of this term, and the criteria by which companies are analysed to obtain the status of “Excellence in Business”. Concerns for approaching the business excellence in both academic and practical manner began to be developed in the 60s. Business excellence for a company were presented and analysed in close connection with: decisions and strategic management, customer care, quality, ethics in management and organizational culture, social responsibility and environmental actions. In theoretical and practical terms, business excellence is treated in several ways, and to achieve this level it requires a plurality of values achieved and maintained on long term. Business excellence does not mean a maximum profit or lower priced products, excellence in business is a complex approach from an economically, technically and socially point of view. Thus, in this paper will be presented the most important contributions in defining and studying business excellence by a number of experts and organizations in the field, such as Thomas Peters and Robert Waterman, Robert Heller, Jim Collins, European Foundation for Quality Management (EFQM), The Malcolm Baldrige National Quality Award (MBNQA).