Stockholm-quoted engineer, Concentric AB has launched the Concentric Business Excellence programme to provides a systematic approach to helping all the companies within the group to improve every aspect of their performance.
Concentric Business Excellence is based on the EFQM (European Foundation for Quality Management) model and its American equivalent, the Baldrige Performance Excellence Program. The philosophy is simple: the model provides a framework that can be applied to any business. It aligns the value streams in the businesses towards the vision, mission and values.
For the programme to succeed there has to be passion and commitment to want to change the behaviours and culture of a business. There is a constant challenge to improve all aspects of the business (true continuous improvement), and to do this properly the customers and employees are anonymously surveyed by a third party.
The gains can be tremendous. Customer satisfaction is lifted by better on-time delivery, quality, communication and ultimately, better alignment. The people in the business better understand the direction and value proposition of Concentric, and are actively involved in the improvement processes. This increases motivation and engagement. Not least, the shareholders/stakeholders will too. The benefits reach the bottom line on the P&L. This can be taken as profit, or used to increase Concentric's competitive edge and in turn, grow the business.
Launching Concentric's new initiative, David Woolley President and CEO, commented: "We have already built up considerable experience in the EFQM model, using the related IiE programme (Investors in Excellence), which is designed to improve all key areas of an organization, including leadership, business planning and the management of the company's people, process, supply chain and customers. Moreover, two of our factories on opposite sides of the world, Birmingham, UK and Pune, India, achieved this standard simultaneously and in near-record time."
"This is a continuous and on-going process which is constantly refreshed in all the plants which have already won accreditation and provides a challenging target for those starting on the programme. It is more than a management tool because it involves everybody throughout the company, at every level and in all different roles. Our experience proves that Concentric Business Excellence will play a key role in the company's future success."
Concentric AB is the global leader in energy-efficient pumps and oil separators for diesel engines, supplying the world's truck, agricultural and construction equipment industries from manufacturing facilities in Germany, Sweden, the USA, China and India as well as at the divisional headquarters in Birmingham, UK. In addition to diesel engine pumps, the company manufactures hydraulic motors, pumps and power packs under the Haldex brand name on a global basis in the UK, USA, Sweden, Germany, India and China.