The paradigm shift to Business Excellence 2.0

Purpose – This paper aims to contribute to the debate on business excellence by comparing the business excellence models of Malcolm Baldrige, European Foundation for Quality Management and Swedish Institute for Quality. By assessing these in relation to today’s new business landscape, the authors suggest that emphasising issues such as stakeholder co-creation of value, stakeholder dialogue, service innovation, service logic, business ethics and different views on resource integration can alter the view of quality improvement from economic, social and environmental perspectives, in turn, leading to Business Excellence 2.0. Design/methodology/approach – This study examines three business excellence models and compares their adoption of the concepts of today’s new business landscape. The study focuses on whether the models’ fundamental principles and concepts are aligned with the views on sustainability, stakeholder co-creation and service innovation. Findings – The examined business excellence models do not fully respond to the requirements of today’s business landscape. To gain relevance in the private sector, the fundamental ideas of the models in terms of concepts, criteria and evaluation processes must be rethought. Such an opportunity enables the quality movement and service logic research to come together to develop new business excellence models that incorporate the challenges of today’s business landscape. Research limitations/implications – This paper illustrates the need to develop business excellence models to address the perspectives of today’s new business landscape. Practical implications – By incorporating strategies in sustainability, stakeholder co-creation and service innovation in business excellence models, organisations can deliver sustainable business growth. Originality/value – The paper sheds new light on how business excellence models can incorporate aspects of the new business landscape. It also shows how the quality movement and the ongoing service logic research can come together to develop a new business excellence model that addresses the challenges in the new business landscape.