The business excellence models and business strategy

Abstract

The objective of this paper is to investigate the effect of using the EFQM model in Czech companies on business success. The study is based on primary data collected from top managers of selected 477 Czech private companies which are incorporated and located in the Czech Republic. Primary data were collected by the method of oral questioning. The companies under research were selected with the method of non-probability purposive sampling, or more precisely by assumption and occasional selection. The research was carried out in the Czech Republic between October 2018 and January 2019. The relationships are analyzed using relevant regression techniques. From the results generated by research methodology, the EFQM model has a very important weight and plays a key role in the strategic planning of the company. This fact is confirmed by the high direct effect, as well as by the high indirect effect between both variables. These results indicate that the using of the EFQM model constitutes a key piece in the strategic planning of the company to achieve of business success.

Keywords:

• EFQM model
• strategic planning
• business success
• business excellence
• business strategy
• business performance

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Funding

This work was supported by the Ministry of Education, Youth and the Sports Czech Republic within the Institutional Support for Long-term Development of a Research Organisation in 2017. The paper is the outcome of the Project Organisational Excellence - Resources and Dynamic Capabilities in Models of ‘Business Excellence’ in the Context of Sustainability Performance Improvement.