The wheel has already been invented

EFQM and Integrated Reporting: a match made in heaven?
PostedSeptember 02, 2015, in  Step 6: continuous innovation
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It is the ‘holy grail’ for international organization management: the EFQM Excellence Award. Each year the best performing company is rewarded with an EFQM Award. A token of recognition that is conveyed as a true mark of quality. But also a quality stamp that is in need of change. The EFQM Excellence Award program is currently undergoing a makeover. And that provides opportunities...  

Focus on the process of change

In 2014 the EFQM Award program was critically evaluated. Not without reason, because the program has suffered to meet the expectations of all stakeholders. In order to raise the standard both the Award program and the EFQM Assessor Training are being thoroughly overhauled. The most important change: the focus is no longer on winning or losing but on the process of change. The end result is less important: what matters is that the Award program offers every participant added value. How? By scrutinizing the organization, signalling areas for improvement and implementing structural changes. But the requirements for assessors and for participants will rise, so that they reinforce each other in the quest for excellence.

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The wheel has already been invented

Applicants for the EFQM Award are paid a visit by a team of assessors. The assessors must be informed in advance by means of the EFQM Management Document (MD), which explains how the expectations of stakeholders are translated into strategic goals and made tangible by the deployment of people and resources. Putting together a good MD costs an applicant a lot of time. It is written specifically for the EFQM Assessment Process. Such a shame, because with just a couple of adjustments the MD is a perfectly usable communication tool to all the stakeholders of the organization. There's no need to reinvent the wheel, it already exists. 

Towards a transparent organization

I firmly believe in connecting visions, concepts and methods that have proven themselves and can reinforce each other. And that it why I see opportunities for the Integrated Reporting (IR) Framework: a practical, clear way of enabling transparent accountability for both financial and non-financial performance. Based on integrated thinking, the IR Framework is the ideal tool for the EFQM community to communicate with all stakeholders: from supplier to client, from employee to shareholder, from investor to EFQM Assessor Team! 

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The best of both worlds

If you preach change you must also have the courage to look beyond your own walls.  We must keep our eyes open for new ideas from outside. By including Integrated Reporting in the EFQM Assessment Process, we are combining the best of both worlds. An eye for the internal organization, an eye for society, an eye for the future. A healthy basis for future ready enterprise.  

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PostedSeptember 02, 2015, in Step 6: continuous innovation
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