What Is Excellence In Business?.
You may have heard other business owners claiming they are striving for business excellence or excellence in business but what does Excellence in Business or Business Excellence actually mean and can it be achieved in your business?
Business Excellence is a global term for an integrated collection of practices that have been tried and tested and are now proven for how a business should operate so it can become the best it can possibly be, this may be world class for example. Excellence in Business isn’t limited to certain businesses, industries or sectors; excellence in business is applicable to all businesses of all sizes, including those in the public or private sector as well as not-for-profit businesses. Excellence in Business results in substantial productivity improvements.
It is important to note, as Aristotle once said “Excellence is not an act, but a habit”, by this we mean that excellence in business requires continuous improvements to the current systems, processes, services and goals within a business.
Tom Peters, American writer and business management practice expert said that excellent firms don’t believe in excellence, instead they only believe in the constant improvement and constant change within this business.
For a business to be truly successful it must continually strive for excellence or it will find itself obsolete and pushed out of the market by its competitors. As a business of excellence you need to continually monitor the marketplace, look out for new ideas and see how they can work with existing products and services.
Look at Kodak and Polaroid for example, once names that were known for film, cameras and pictures have since been replaced by Sony and Nikon which has replaced the old high quality service of film and developing and is now a digital camera that is reasonably cheap and can be put with a personal computer along with the high speed digital communications that are often taken for granted today
As a business it is essential that you keep an eye on the market and your competitors to make sure you aren’t left behind. Always strive to be better and you will achieve excellence in business, without even knowing it.