ACHIEVING BALANCED EXCELLENCE : A COMBINATION / COLLABORATION MODEL USING EFQM EXECLLENCE MODEL AND BALANCED SCORECARD

In the age,we live in today , achieving the business or organezational excellence is a very difficult and subtle process Organezations today face new challenges that were not present in traditional organizational environments to name a few these challenges include volatile environment made by immense competition by competitors and new entrants into the market,increased crstomer expectations,low profet margins , need for global expansion,enhancine organezational needs to keep all of its associated stakeholders happy in a balanced way . one way of doing so is to enhance the business and organezational excellence by employing any of the organizational excellence models . With this process on the one hand organizations are able to figure out the lagging areas and try to impove them and on the other hand are able to improve the leading aread and start the journey towards excellence Traditionally organizations employ some performance improvement techniques in one way or other , but in today's environment it becomes nessary to try out some robust mechanisms to ensure , excellence and performance improvement. in thes paper , by taking the need of organezational execellence in view , ferst we will try to make a clear distinction between quality and excellence and then we wiee review the European foundation for quality managements (EFQM) excellence model and Balanced Scorecard ( BSC) performance measurement moled,and figure out the strengths and weaknesses of both ot them,After that a combination or collaboration molel based on EFQM and BSC will be given to addidt organezations to avoid the weaknesses of both of them and use the strenghs of both of the models in a best possible way.By using the approach defind in this paper contemporary managers cam make their organizations agile and competitive on every frot.

ACHIEVING BALANCED EXCELLENCE : A COMBINATION / COLLABORATION MODEL USING EFQM EXECLLENCE MODEL AND BALANCED SCORECARD Keywords:

organizational excellence , performance measurement , vision , strategy , critecal success factors , key performance indicators