Financial Daily from THE HINDU group of publications
Friday, Apr 23, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 23, 2004 |
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Industry & Economy
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Events `Business excellence should be result-oriented' Our Bureau
Dr K. Kesavasamy, Head, Academic Interface Programme, Tata Consultancy Services, inaugurating the Business Line Club at the Poojappura Extension Centre (Institute of Cooperative Management) of the Institute of Management in Kerala (IMK) in Thiruvananthapuram on Wednesday. — S. Gopakumar
Thiruvananthapuram , April 22 TOTAL business excellence is predicated on the success of a well-rounded strategy that seeks to produce results across a range of definitive interfaces such as the customer, services and products, finance and market and human resources. The Malcolm Baldridge National Quality Award (MBNQA) programme has always sought to highlight the relevance of results, pure and simple, while selecting US-headquartered companies for the prestigious business excellence award. Not only does this business excellence model encompass all dimensions and functions of an organisation, but it also seeks to promote a commitment to excellence. Introducing the model to MBA students of the Institute of Management in Kerala (IMK) at Poojappura here, Dr K. Kesavasamy, Head, Academic Interface Programme, Tata Consultancy Services Corporate Training Centre, Thiruvananthapuram, said MBNQA offered itself as a self-evaluation tool. It was also a model that kept evolving to meet changing business needs. The IMK Extension Centre is located at the Institute of Cooperative Management (ICM) in Poojappura. The presentation on "Business Excellence" by Dr Kesavasamy was organised to commemorate the initiation of the Business Line Club at the IMK Extension Centre. Mr V. Sudhir, Course Coordinator-Faculty, ICM, welcomed the gathering while Dr Ramachandran Nair, Director, IMK, gave the presidential address. Business excellence is perceived to emerge out of a methodology that seeks, on the one hand, to balance stakeholder interests and increase, on the other, the likelihood of sustainable competitive advantage, Dr Kesavasamy said. Long-term organisational success is sought to be achieved through operational, customer-related, financial and market performance excellence. Thus, the MBNQA objectives aim to recognise excellence, identify role model organisations and promote understanding and sharing. As mentioned earlier, the MBNQA criteria focuses on results, Dr Kesavasamy said. While the criteria are non-prescriptive and adaptable, they support a systems perspective and a goal-based diagnosis, he added. The award eligibility categories included business (manufacturing, service and small biz), educational organisations and health care organisations. The scoring system sought to evaluate the business along the three dimensions of approach, deployment and results. Of this, business results were given a total score of 450 for rating purposes, shared equally among the six "results-oriented" focus points of customer relations, products and services, finance and market, human resources, organisational effectiveness and governance and social responsibility. These evaluations should include assessment of the current levels, study on trends and benchmarking against competitors and accepted norms. A study by the National Institute of Standards and Technology of the US has revealed that Baldridge award winners have outperformed the S&P 500 Index by 4.4 to 1 while Baldridge participants has done it in the ratio of 2:1. IBM, Motorola and Ritz Carlton are among the major MBNQA-winning companies. Some MBNQA-modelled Indian initiatives include the Tata Business Excellence Model, the Rajiv Gandhi National Quality Award and the IMC Ramkrishna Bajaj National Quality Award.
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