Process based model of business excellence to achieve world class status

This paper presents a new business excellence model based on critical business processes that are required to achieve world class operations. It is important to also evaluate the status of the firm as a world class company. 168 business practices have been identified and the results of business excellence have been measured by 29 performance indicators. Best global practices used in MNCs have been used for developing the model. This model has been tested in a sample of 75 top performing listed companies in India through Correlation, Median split t-tests, and Path analysis techniques. The study was conducted during 2009–2012. Important determinants of excellence in Indian companies have been identified. The model is simple to use by self assessment and gives clear directives on required benchmarks and processes.