Introduction:
For leaders who are reluctant to turn their attention avvay from the bot-tom Üne, the final Baldrige characteristic offers a back door: The new model values results. The pursuit of quality excellence does not come at the expense of financial excellence. Rather, financial results are another way of measuring the effectiveness of the system. The difference is that the goal of the new model is not profits; it is customer satisfaction, with the understanding that profits will improve as quality improves.
Value creation model:
It reflects the experiences of quality leaders worldwide. Delighting customers, reducing waste, and increasing productivity are natural by-products of a systematic process of continuous improvement.
Financial performance depends on how well a company does in three areas, and the new model strengthens a company's position in all three:
1. Strategy developmentit contributes to more efficient strategies and better business decisions, which improves the development of strategies and helps companies respond to a changing environment.
2. Market performance.it increases customer retention, market share, and revenues, which improves performance in the marketplace.
3. Internal performance.it improves asset utilization and productivity and lowers operating costs, which improves performance throughout the organization
Requirements — Your Customers — Satisfaction
The new management model: