Development & Validation of Business Excellence Framework for Indian Manufacturing MSMEs

Abstract

The present study aims at exploring the status of business excellence practices, proposing and validating a framework and prioritisation of validated factors for Indian manufacturing MSMEs. A structured methodology was followed for achieving the three-fold objectives of present research work. The findings present the awareness and status of business excellence practices in MSMEs followed by validation of eight factor multidimensional construct of business excellence comprising of factors namely organisational culture and stakeholder engagement; quality systems and business orientation; self-managed teams with diverse work force; competitiveness and market orientation; result orientation; innovation and continuous improvement; inclusive organisational environment and leadership and top management commitment; out of these leadership and top management commitment received a higher weightage. The implications for practitioners and policy makers have also been discussed. The novelty of this research work lies in proposing a framework for business excellence assessment of MSMEs for fueling the growth of Indian economy.