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The objective of this study is the preparation of a management model that brings together the advantages of models from different disciplines: Balanced Scorecard (BSC), European Foundation for Quality Management (EFQM) and Holistic Marketing (HM).
HM proposes an overview of organisations – taking into account all value streams which companies gene...
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Citations
The purpose of this study is to incorporate the Holistic Marketing to a new management model that integrates European Foundation of Quality Management (EFQM) Excellence Model and the Balanced Score Card (BSC). This model defines a strategy through excellence criteria and translates it into a set of performance measures through the Balanced Score Card. The Holistic Marketing (HM) provides marketing vision as a mechanism involved in all aspects of business, It gets it so by exploring, creating and delivering value to customers, core skills and collaborative network. To fit the Holistic Marketing in this model is performed an analysis in which thirty- two sub criteria of the Excellence Model are allocated among the nine basic components that make up the Holistic Marketing and the four perspectives of the Balanced Score Card . Thus the weight of each of these perspectives and basic components is obtained, and laid down the relationships between them, elucidating which of them are most important for achieving goals and getting a management model that maximizes resource efficiency and competitiveness of the company.
This study shows that the Holistic Marketing is a suitable tool for the final model and getting adapt to rapidly changing environment in which companies operate today, forcing them to constantly reinvent themselves.
The paper presents the results of empirical research on the effects of some criteria of the EFQM
excellence model on satisfaction and loyalty of the employees in the banking sector in Serbia. All but
one of the hypotheses in the defined model were proven by statistical evaluation of empirical results.
The one which could not be proven is the hypothesis of a positive impact of the organization's
relationship toward security and society on the business result, which makes specificity of
transitional economic conditions in which the studied banking sector operates. Statistical analysis
was performed using V.16 LISREL software package where statistical significances of the studied set
were defined together with b and t values of the defined paths in the defined model. Researches have
shown that criteria of EFQM excellence model can be used to develop and improve the functioning
of the banking system in Serbia and develop the TQM practice.
