The EFQM Model as an Exquisite Tool for the Analysis of Business Excellence and Its Use in the Healthcare Industry

Vladimir Bukvic

A chapter in Global Market and Trade from IntechOpen

Abstract: The author links together business analysis and business excellence as an ideal that all well-performing organisations wish to achieve while attaining and continuously maintaining superior levels of business performance. He leans on the EFQM model and uses it as an excellent tool for analysing the business of an organisation throughout all the phases defined by traditional business analysis. This entails setting up hypotheses and testing them by applying appropriate measures. After a short introduction, the author makes first a thorough literature review on business excellence in the last two decades. Further, the author presents the basic concepts and elements of the EFQM model of business excellence, with a particular emphasis on the RADAR matrix. He also presents the use of the model for analysing and assessing the business excellence of organisations in the public sector, specifically in the healthcare industry (hospitals). He presents the key attributes (select healthcare aspects) that define the quality of healthcare services for its key participants, i.e., patients and the payers of these services. The author rounds off his paper with a couple of recommendations regarding the identification of strengths and areas for continuous improvement, which he considers as the most important aspect of business excellence analysis.

Keywords: business excellence; EFQM model of excellence; financial ratios; quality of healthcare services; business analysis (search for similar items in EconPapers)
JEL-codes: F10 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:290101

DOI: 10.5772/intechopen.108471

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