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Organizational Values as the Basis for Business Excellence

Author

Listed:
  • Ivan Malbasic

    (University of Zagreb, Croatia)

  • Bruno Beluzic

    (Vindija Ltd, Croatia)

  • Nikolina Posaric

    (University of Zagreb, Croatia)

Abstract

Organizational values play an increasingly important role in contemporary organizations – they intertwine all segments of business and greatly affect the direction of the organization’s business strategy. The purpose of this paper is to note that the organizational values that permeate all business segments under modern business conditions form the foundation for the excellence of business organizations. In this regard, we first introduce Kanji’s Business Excellence Measurement System (KBEMS) as a starting point for understanding business excellence. According to KBEMS, business excellence is determined by measuring the satisfaction level of customers, employees and other stakeholders to obtain a comprehensive assessment of organizational performance. Specifically, KBEMS consists of two main aspects-leadership and organizational values. In the central part of the paper, we present a case study of Yum! Brands, one of the world’s largest fast food companies. Particular emphasis is placed on the detailed presentation and explanation of the basic organizational values of Yum! Brands Company based on two sources of information-espoused values listed on the official web site of the company and various external sources of information from which external stakeholders assess the company’s value orientation. Finally, we analyzed the organizational values of Yum! Brands from the perspective of KBEMS. This case study shows that organizational values are the real foundation for business excellence in Yum! Brands. In this context, we considered the relationship between organizational values and key components of KBEMS. This study can therefore serve as an example of putting organizational values into the function of increasing organizational performance, with the ultimate goal of creating organizational excellence.

Suggested Citation

  • Ivan Malbasic & Bruno Beluzic & Nikolina Posaric, 2018. "Organizational Values as the Basis for Business Excellence," Management, University of Primorska, Faculty of Management Koper, vol. 13(3), pages 265-279.
    • Handle: RePEc:mgt:youmng:v:13:y:2018:i:3:p:265-279
    DOI: 10.26493/1854-4231.13.265-279
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    References listed on IDEAS

    as
    1. Ivan Malbašić & Carlos Rey & Vojko Potočan, 2015. "Balanced Organizational Values: From Theory to Practice," Journal of Business Ethics, Springer, vol. 130(2), pages 437-446, August.
    2. Pablo Cardona & Carlos Rey, 2008. "Management by Missions," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-59894-2, September.
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