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Services Management - EFQM Excellence Model and Radar Logic - Essay Example

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Name: Course: Instructor: Institution: Date: EFQM Excellence Model and Radar Logic Executive Summary The EFQM model of management is a milestone in modern management because of its relevance its application in organizations. The model is designed to assist organizations to conduct self-assessment activities and strengthen their structural operations at all times…
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Services Management - EFQM Excellence Model and Radar Logic
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Download file to see previous pages The fundamental objective for the study is highlighting the effectiveness of the model in the actual business scenario. Further, the paper will discuss the significance of the model which is the practical and objective approach to make operations of a company better. The challenges and critique on the model which include the fact that mathematical details are not inclusive will be highlighted. Since this is a secondary report, the main methods used to compile the report were library study and internet research. A case study of Mr. Smith, a customer with Executive Bank PLC who lost valuables will be the basis of focus on how EFQM can be a turnaround tool. The findings on the case exposed the lack of proper communication by the operations and customer care department. The report recommends that the company should carry out systematic checks on its operations and adopt a continuous improvement of systems. Secondly, proper staff and communication channels are recommended to avoid any future problem. Table of Contents Executive Summary Introduction EFQM: Background Information Principles Value addition to the customer Creating sustainability Developing an organizational capability Harnessing creativity and innovation. Vision, integrity and inspiration Possessing agility Managing talent Continuous results Purpose of EFQM Significance Challenges and criticism of EFQM Case study: Executive Bank PLC. Gold Card Protection Service Possible Causes of the Problem EFQM Solutions for the Gold Card Protection Service Developing an operational network Redesigning of the operations of the card service Prioritize issues Use of the EFQM Concept as an exemplification of the above Solutions Use of The Radar System Conclusion Recommendations References Further sources Introduction It is the objective of each organization or firm to offer quality services and satisfy all interested stakeholders. Many models have been created to measure and control the performances of these firms at specified periods according to Afuah and Tucci (2003, p9). As effective as they may be, each of the models has been found to have a considerable degree of limitations. The most effective of these models ought to have three qualities that can be of use by the management and employees namely innovation, collaboration and cooperation. It is obvious that service delivery executed at the highest level does not only satisfy a customer, it also motivates the employee to work better and give better results. The EFQM or European Framework for Quality management incorporates the three qualities that can harness these desired results in the service sectors such as banking and insurance. The model was launched in 1991 on the platform of eight fundamental concepts of quality management. With over 30,000 small and large organizations applying its principles, EFQM has proved to be not only reliable but also an effective framework of management. This exercise focuses on EFQM principles and their significance, its critique and its application relates to a bank namely, Executive Bank PLC. EFQM: Background Information After the great depression of the 1930’s and the emergence of new markets, organizations in America began to look for new ways of doing business. This was mostly motivated by the drive to do business in an effective and efficient manner. Research activities in various institutions were ongoing on the aspect of ...Download file to see next pagesRead More
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