SIGMA LOOP CONSULTING's Business Excellence Project consists of four parts:
The EFQM Excellence Model, which is widely used in Europe, gives the opportunity of a holistic approach to organizational assessment, using the following criteria:
As explained in the EFQM website each of the 9 criteria has a definition, which explains the high level meaning of that criterion. To develop the high level meaning further, each criterion is supported by a number of criterion parts. The RADAR logic, developed by EFQM, is an assessment framework that helps you assess and score the level of each sub-criterion.
The EFQM assessment provides a common performance framework, which can be further used to benchmark your performance with the performance of a high level competitor, leading to valuable conclusions.
Using the conclusions of the assessment and the benchmarking project we will set priorities and work on a specific project utilizing lean six sigma principles. SIGMA LOOP CONSULTING offers lean sigma improvement projects both as part of the business excellence project and as an independent service. To find out more about our approach regarding lean six sigma process improvement projects, click here.
The final part of the business excellence project is the development of business metrics based on six sigma and the balanced scorecard. A holistic approach in the development of business metrics is essential for judging the rate of improvement over time.
The Balance scorecard is designed to provide a strategic vision for the organizations by looking at four perspectives: financial, customer, learning and growth and internal business processes. For each of these four areas the company looks at goals, measures, targets and initiatives.
Our approach goes beyond the traditional balanced scorecard approach in the development of metrics by expanding the areas to be looked at, to include the EFQM criteria and by incorporating six sigma principles in the measurement and development of performance metrics. Our business scorecard combines information from the strategic, operational and execution aspects of the business.