Business Excellence for Sustainable Success: An Overview and a Proposed model

This paper explores the critical role of business excellence in achieving sustainable success and aims to give a comprehensive brief understanding of the principles that enhance and support effectiveness, profitability and growth. It reviews the urgent need for business excellence, by acknowledging the rapidly changing nature of the business environment and the diverse starting points, conditions, and goals that businesses face in their journey towards excellence. In essence, this paper emphasizes the critical role of setting clear business objectives and defining the scope of the excellence journey for sustainable success. It also provides an overview of the concept of value on the scale of business excellence, emphasizing the importance of understanding value principles relevant to an organization's strategy, performance, and effectiveness. It stresses the necessity to prioritize resource allocation based on value creation in line with business objectives and reviews methodology for identifying improvement opportunities. The concludes paper by a proposed model that applies the principles and practices of business excellence which promote and sustain success in today's dynamic and competitive business environment.