IMPLEMENTATION OF EFQM AND BSC MODELS FOR STRATEGIC DEVELOPMENT OF THE ENTERPRISE IN THE CONTEXT OF A SYSTEMIC CRISIS
DOI:
https://doi.org/10.35774/jee2019.01.054Keywords:
Balanced scorecard (BSC), European Foundation for Quality Management (EFQM), systemic crisis, strategic development.Abstract
In recent years, fast growing of global progresses which caused by technological and informational developments. And also enhancing of products variation has forced companies to perceive importance of continious improvement process to get operational effectiveness and also to create core competence to sustain in the competitive environment. So the organizations are trying to choose the best methods to identify their weakness and strengths, improve them and adopt them with the organization strategic objectives in order to yield the best achievements in performance.
For the strategic development of a firm in a systemic crisis, it is necessary to combine and synergize the existing models of business perfection, but there is no single correct way to combine and implement different models, so we need to consider all the variations and choose the most optimal one. The main purpose of this work is to develop a methodology for increacing the value of business perfection models for the strategic development of enterprises in a systemic crisis and its implementation.
This article is presented total view of these two models and proves the feasibility of combining them in order to conduct the benefits of combining these two frameworks. Moreover, after recognizing the weaknesses and powers of each model, the possibility of using them at the same time has been evaluated and then the influence of combination model on Implementation and Evaluation of Organizational Strategies and Performance has been investigated.
JEL: M11, M21.
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