The purpose of this paper is to present the usefulness of the combination of the European Foundation for Quality Management excellence model and the balanced scorecard…
The purpose of this paper is to present the usefulness of the combination of the European Foundation for Quality Management excellence model and the balanced scorecard integrated into the management model for competitiveness and performance development.
The presented model is the result of a business research where comparative analysis of the two models has been carried out. Both models have been thoroughly studied from different points of view. Such an approach enabled one to define the strengths, weaknesses and similarities of the two models.
On the basis of the robustness of both models a combination was formed integrated into the management model, which is likely to be better, more effective and simpler to use in practice, and which will support an increase in competitiveness and performance development.
Within the research the aim has been focused on close research into interactions presented in the integrated management model. Throughout research, consideration was given to the problem of its external validity which is somehow limited. Here analytical generalisation is discussed. A number of cases can be found in which a combination of both models has been used in different ways. The way of combination in the integral management model, which is presented here, was carried out in 2005 in an important Slovenian international company.
The originality can be found in the particular approach towards comparative analysis and also in the result, which represents a combination of the two models integrated in an original manner into the integral model of management. Companies which have not yet introduced, as well as those which have already introduced, one of the researched management tools will be able to use the results of this research for further upgrading/consolidation in the sense of the model combination of both. The synergetic effects of the interactions of the combination between both management approaches will have a positive effect on increasing company competitiveness.