What makes a business excellent?

An excellent business is efficient and effective at meeting stakeholder needs, now and in the future.

Stakeholders are the group of people with a vested interest in the actions and success of your business.  This includes your customers, owners or shareholders, regulatory bodies, NGOs, the community you operate in, and your workforce.  

These stakeholders will have competing priorities.  Being an excellent business requires you to find a balance between these priorities; to deliver a product offering that the customer values, for a profit that satisfies the owners, in a way that meets the needs of the workforce and community.  

There are a number of internationally recognised frameworks for business excellence.  They all paint a similar picture of what an excellent business looks like.  An excellent business is one that:

  • Has leadership that inspires and enables the organisation to excel.
  • Is strategically positioned for long-term competitive advantage.
  • Delivers excellent value to customers and stakeholders.
  • Demonstrates strong corporate and social responsibility.
  • Has good strategic and tactical planning processes.
  • Manages by fact.
  • Has efficient systems and processes.
  • Has a skilled, aligned and empowered workforce.
  • Is continually improving, innovating and learning.

This probably sounds like business Nirvana; and too daunting to contemplate.  Where do you start?

It's true there is no quick fix to achieving excellence.  It requires more than just implementing the latest management fad or getting a group of consultants to re-engineer your business.  But every step along the path will reap great rewards.

BusinX Consulting has developed an Excellence Framework and Diagnostic Tool which can help you assess your strengths and weaknesses, prioritise your issues, and develop a plan to move forward.