Introductory description

The EFQM Business Excellence Model (BEM) is a holistic model for business excellence incorporating the 3 key elements of Direction, Execution and Results. At the heart of the model is the RADAR model:

1. Define the Results that the organization wishes to achieve.
2. Develop the Approaches required to achieve the desired outcomes.
3. Deploy the approaches in a rigorous and controlled fashion.
4. Assess the ongoing performance and the impact of the planned activities,
5. Refine these approaches in the light of the results and a deep understanding of the cause and effect mechanisms at play.
   This module follows the RADAR model, starting from defining an effective basket of measures of success. This basket will include both financial and non-financial measures, leading measures which predict future performance (for example workforce engagement measures or customer satisfaction measures) and lagging measures which measure current or past performance. The module considers the robust development of appropriate actions to respond to desired results, with due consideration of unexpected impacts and consequences. The module discusses how to monitor, assess and refine the improvement initiatives in order to keep the delivery of long-term results on track.

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

This is an indicative list of topics:
The RADAR approach to measuring and improving organizational performance.
Key financial measures, use and limitations.
Non-financial measures, use and limitations.
Leading and lagging measures and how to use them.
Data and Stories.
Implications of Big Data.
Using data to develop, deploy and manage effective improvement initiatives. Hoshin Kanri as a critical strategic tool.
Integrating these concepts to design and implement strategically focused measurement systems.

Learning outcomes

By the end of the module, students should be able to:

• Critically evaluate the benefits of the RADAR approach to strategic measurement and improvement.
• Critically evaluate the role of financial and non-financial measures; leading and lagging measures; numeric and narrative data in understanding organizational performance and improvement.
• Select, justify and apply a measurement plan based on an organization’s strategic objectives and effective use of data.
• Use a strategic planning approach to deploy and monitor effective action plans to achieve strategic priorities.
• Manage behavioural and process aspects of performance management.

Indicative reading list

Bamber, M. and Parry, S.(2018) Accounting and Finance for managers, Second edition, London: KoganPage
Dyson, J.R., (2020) Accounting for Non-Accounting Students, Tenth edition, Harlow, England: FTPrentice Hall.
Johnson, H.T., and Broms, A. (2008) Profit Beyond Measure: Extraordinary Results through Attention to work and People, London: Free Press.
Kaplan, R.S. and Norton, D.P. (2006) Alignment: Using the Balanced Scorecard to Create Corporate Synergies. Harvard Business review.
Melander, A., Andersson, D., Elgh, F., and Fjellstedt, F. (2021), Implementing Hoshin Kanri: How to Manage Startegy Through Policy Deployment and Continuous Improvement, London, Productivity Press.

View reading list on Talis Aspire

Subject specific skills

Use of RADAR approach, application of Hoshin Kanri to drive improvement, interpretation and use of financial and non-financial data, human factors in measurement, systems thinking at the organizational level.

Transferable skills

Analytical skills, numeracy, team working, reflective practice, communication skills, research skills.