1. what is the general concept of business excellence?
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Business Excellence is often described as outstanding practices in managing the organisation and achieving results, all based on a set of fundamental concepts or values. These practices have evolved into models for how a world class organisation should operate.
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Essentials of good business letters: The qualities which are essential for a good business letter are collectively called, the eight C's of correspondence. They are, namely, correctness, clearness, courtesy, conciseness, coherence, cheerfulness, character and completeness.
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In essence, business development involves high level decision-making based on a realistic assessment of all potential changes and their impact. Through new ideas and initiatives, it aims to improve the overall business prospects, which drive the functioning of the different business units.
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A business aim is the overall target or goal of the business, whereas business objectives are the steps a business needs to take to meet its overall aims. A business may have several different objectives that will help it to meet its aim.
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Customers, management, and employees all appreciate honest and ethical practices. Business ethics are vital because they help maintain a great reputation, help avoid significant financial and legal issues, and they ultimately benefit everyone involved.
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The EFQM model provides a framework allowing organisations to determine their current "level of excellence" and where they need to improve their efforts. The model also helps to ensure that business decisions incorporate the needs of all stakeholders and are aligned with the organisation's objectives.
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['Commercial awareness.', 'Decision making.', 'Innovative and original thinking.', 'Problem solving.', 'Prioritisation.', 'Strategic thinking.', 'Working independently.', 'Being able to communicate professionally.']
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['respect for the individual.', 'strive for excellence.', 'service to our customers.']
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Process efficiency can be defined as the amount of effort required to achieve a business outcome. A business result could be anything your company produces, whether it's a product (tangible or intangible) or the delivery of a service. Most companies produce products and services.
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["the organisation's vision, goals, objectives and priorities.", 'business and performance plans.', 'systems, processes and requirements for quality assurance.', 'specific change initiatives.', 'legal requirements, for example, occupational health and safety and anti-discrimination legislation.']
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What is Six Sigma? Six Sigma is a quality management methodology used to help businesses improve current processes, products or services by discovering and eliminating defects. The goal is to streamline quality control in manufacturing or business processes so there is little to no variance throughout.
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Successful businesses are based on both goals and objectives, as they clarify the purpose of the business and help identify necessary actions Goals are general statements of desired achievement, while objectives are the specific steps or actions you take to reach your goal.
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The European Foundation for Quality Management (EFQM) Excellence Model, is a self-assessment framework for measuring the strengths and areas for improvement of an organisation across all of its activities.
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Answer: This statement argues that business exists only for maximizing profits and businesses fulfil their social responsibility best by maximizing profits by increasing efficiency and reducing costs. They need not take up any additional obligations.
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Business goals describe what a company expects to accomplish over a specific period of time and are very important for the health and well-being of any company. Goals help a company measure its success, as well as help with overall planning.
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I define quality as a product or service that is consistent at providing an expected level of performance. I define performance as a product or service that meets a certain level or physical specification to achieve a work-end.
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Business administration (also known as business management) is the administration of a business. It includes all aspects of overseeing and supervising business operations. From the point of view of management and leadership, it also covers fields that include accounting, finance, project management and marketing.