EFQM

AbbreviationEFQM
Formation15 September 1988; 36 years ago (1988-09-15)
FoundersJacques Delors, Umberto Agnelli, Carlo De Benedetti, Carl Hahn, sv:Anders Scharp, Jan F.A. de Soet, nl:Cor van der Klugt, Serge Dassault, Heini Lippuner, fr:Raymond Lévy, Francis Lorentz, Konrad Eckert, Iain Vallance, Fritz Fahrni, R. Morf
Legal statusNot-for-profit member foundation
PurposePromotion of business excellence
HeadquartersBrussels, Belgium
Coordinates50°52′08″N 4°24′15″E / 50.86878°N 4.40423°E / 50.86878; 4.40423
Region served
Worldwide
ServicesTraining, organizational assessments
CEO
Russell Longmuir
Chairman
Paul G.K. Little
Main organ
Board of directors
Staff20
Websitewww.efqm.org
Formerly called
European Foundation for Quality Management

EFQM (the European Foundation for Quality Management) is a non-profit membership foundation established in 1989 in Brussels, when CEOs of 67 European companies subscribed to the policy document and declared their commitments to EFQMs missions and values.[1] EFQM works with over 50,000 organisations from across Europe and beyond, including organisations such as BMW, Robert Bosch, Aramco, Siemens and Huawei.[citation needed]

History

Members from many industries set up the Foundation to develop the EFQM Excellence Model. The framework was intended to be used to support the assessment of organisations in the European Quality Award in 1992.[citation needed]

On 15 September 1988, 14 European business leaders met with the 8th President of the European Commission (1985-1995) Jacques Delors, and signed a letter of intent to form a European Foundation. The 14 CEOs were:

Company Representative Business Leader
Robert Bosch GmbH Mr. K. Eckert
British Telecommunications plc Mr. I.D.T. Vallance
Bull SA Mr. F. Lorentz
Ciba-Geigy AG Mr. H. Lippuner
Dassault Aviation Mr. S. Dassault
AB Electrolux Mr. A. Scharp
Fiat Auto SpA Mr. U. Agnelli
KLM Mr. J.F.A. de Soet
Nestlé Mr. R. Morf
C. Olivetti & C., SpA Mr. C. De Benedetti
Philips Mr. C.J. van der Klugt
Renault Mr. R.H. Lévy
Sulzer AG Mr. F. Fahrni
Volkswagen AG Mr. Carl H. Hahn

Activities

EFQM provides training services and award schemes via their management framework, the EFQM Model.

The EFQM Model

The EFQM Model (known previously as the EFQM Excellence Model) is a management framework that support organisations in "managing change" and "improving performance."[2]

A number of research studies have investigated the correlation between the adoption of holistic models such as The EFQM Model, and improved organizational results. The majority of such studies show a positive link. One tangentially related study was carried out by Vinod Singhal of the Georgia Institute of Technology and Kevin Hendricks of the College of William and Mary.[3]

The EFQM Model, since 1989, aims to provide organisations from over 50,000 organisations with the skills to develop a culture of continuous improvement.

Application

The model is used by about 50,000 organisations across the world. In recent years, more countries have started implementing the Model, especially across the Middle East and South America.

The EFQM Global Award

The EFQM Global Award is run annually by EFQM. It is designed to recognize organizations that have achieved an "outstanding level of continuous improvement", based on assessment against The EFQM Model.

See also

References

  1. ^ "About". EFQM. Retrieved 27 May 2024.
  2. ^ Mind Tools Content Team. "MindTools | Home". www.mindtools.com. Retrieved 5 September 2023.
  3. ^ K. Hendricks & V. Singhal (1996). "Quality Awards and the Market Value of the Firm: An Empirical Investigation". Management Science. 42 (3): 415–436. doi:10.1287/mnsc.42.3.415. We note that the abnormal returns generated by the quality award winning announcements provide a lower bound for the impact of implementing an effective quality award improvement program. Our results show that the stock market reacts positively to quality award announcements

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