Sustaining Business Growth through a Business Excellence Framework
All successful businesses start with a good business model but as their success grows, many of these businesses could not sustain profitability in the long term. Many businesses could not sustain profitable growth in the long term because they do not have a roadmap to strengthen their core capabilities and to build organizational resilience.
This paper reviews the use of a business excellence framework that could act as a roadmap for a business to build organizational resilience so as to sustain business growth and profitability. The business excellence has 7 criteria that provides specific requirements for organizations to fulfil in order to build its excellence. How a firm can integrate these criteria into its business will be discussed. For each criterion to excel on its own will not provide the synergistic effect that drives business excellence. To be effective in using the roadmap/framework, all criteria have to be driven by an overarching strategic direction. This paper will discuss how this could be achieved.