Context that due to the ongoing changes in the global business environment, business entities are forced to alter their operational vision, goals and methodologies too often causing the risk of unplanned and chaotic changes in the working process which in turn are quite likely to give rise to perplexity within the human resources and thus lead towards a greater disruption in the overall operational functions of the organisation. Taking these aspects into concern, the major drivers of change in today’s business context can be stated as the alterations in the external business environment in terms of innovation, competition, legal as well as economic variations, and social changes which accumulatively lead to the alterations of consumer needs, demands along with their perceptions (Yokota & et.In today’s global scenario, competition and financial liberalization are considered to be the most influential factors that effectually enable a company to sustain in the prevailing fierce competition. Consequently, with an effect of such fierce competition and growing need for product differentiation, quality has emerged to be one of the prime concerns of global companies in order to enhance its competitive advantages over its rivals. It is owing to the belief that best quality with competitive prices ultimately helps an organization to attract and retain customers. In this context, organizations have often been observed to use the Business Excellence Model (BEM) framework that focuses on reviewing the organizational performances periodically and practice effective methods for ensuring improvements in different sectors. In other words, BEM is the benchmark that was originally introduced in the European Foundation for Quality Management (EFQM) based on the philosophies of Total Quality Management (TQM) that ensures organizational development and growth in the long run. Besides EFQM, Balanced Scorecard and Six Sigma are other alternates to measure and improve a business (Jha & Joshi, n.The paper will discuss EFQM, Balanced Scorecard and Six Sigma which are the three key methods that can be used to improve the business.
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