Competitiveness: 10 Outstanding Business Principles

Author: Jeffrey Bell
Publisher:
Publish Date: 2003-08-01
Features: A globally authoritative corporate health assessment tool, an outstanding corporate framework adopted by successful companies worldwide. This book provides the material needed to make businesses operate more efficiently. It offers an action plan for improving operations and making businesses more successful, all centered around the "Corporate Health Assessment Survey." Through this corporate health assessment tool, users can determine whether their business is on a healthy growth track. Many businesses lack a healthy framework, which not only affects their current profitability but also deeply impacts their survival in a few years to come—a business body that is not healthy is destined to rot and decay. These principles apply to every company—whether large or small, non-profit or multinational, manufacturing or service provider. More importantly, these principles are both standards and a direction for corporate development. The 10 principles, known as the "universal law of business," undoubtedly hold significant value for Chinese enterprises focused on survival and growth. Today, businesses of all sizes face increasingly fierce competition, as reflected in the annual Fortune 500 list. Not only does the ranking of the Fortune 500 change every year, but corporate profit margins are also declining year by year: in 2002, the total revenue of these 500 companies was still less than half of what it was in 2000. In such a business world with diminishing potential profits, businesses at the lower end of the food chain are more prone to fall behind, fail, or be acquired. Never has it been more important to increase market share and maintain profitability. In the book Competitiveness, Jeffrey Bell leverages the experiences of the three major international corporate frameworks—the Malcolm Baldrige National Quality Award, the European Foundation for Quality Management, and the Australian Excellence Framework—to propose 10 accurate, reasonable, and universally applicable principles. It has been proven that the world's most successful companies all adopt this new way of doing business, resulting in far superior performance compared to their competitors in terms of stock performance, profit acquisition, and investment returns. These principles have been adopted by all national excellence business assessment institutions. Research shows that if these principles are applied and the score on the Excellence Framework exceeds 300, the annual growth rate of key performance indicators (KPIs) will increase by 3% for every 50-point increase.