The prestigious business awards ceremony, The EFQM Global Awards have now been announced and can be seen on the EFQM Global Awards website https://www.efqm.org/news/726-global-award-winners-2021/.
The main goal of the EFQM Global Award (EGA) is to recognize excellent global organisations, regardless of size, scope or impact. These organisations clearly demonstrate an impeccable track record of achievement in transforming strategy to real-world implementation and ongoing improvement. The process of selection is rigorous, rewarding and challenging for all involved parties – staff and suppliers alike. This four part awards programme focuses on four key criteria to ensure that the best of the best are short-listed for evaluation.
The first criteria is that the organisation must exhibit a clear strategy that has been developed through extensive market research and stakeholder engagement. In line with this requirement, the selection of candidates for the EFQM Global Award must be based on a well defined process of prioritisation. The winning candidate will receive an EFQM Global Award of equivalent status and funding. It is worth highlighting that the process does not stop with achievability assessment but also includes a review of company management structures, business strategies, operations and funding to ensure the selection of truly exceptional companies.
The second criterion for the development of the next exam global award winner is the level of commitment shown by the applicant organizations to the process. Achievability is an important factor in selecting the winning candidate but it cannot be the only consideration. There is no point in handing over a prize to an organisation that cannot deliver on its commitments, both financial and human resources wise. Furthermore, a lack of commitment can also be used as an excuse for under-delivering. Achievability is only a factor of limited value when the commitment shown by the applicant to the process cannot be verified by independent sources such as the board of directors, staff and suppliers of raw materials, technology and other support systems.
The next element of the process is an analysis of the applicant’s business models and the sustainability of these models. The selection of an appropriate model to be applied to an exam global award does not just involve looking at the overall performance of the company but also looking at the performance of key personnel and key processes. In order for a pharmaceutical company to emerge as a true winner of this competition, these key elements must be thoroughly assessed. This evaluation can be carried out by exam experts who liaise with all of the 12 organizations involved in the process, providing them with the requisite information to make their decision.
The other important criteria is sustainability. An organisation’s ability to compete effectively in the global market, as reflected by the size of its enterprise and industry presence, is essential if it is to emerge as a true winner. The evaluation of these factors enables the efqm companies to spot those companies which are not truly striving for excellence and those which are performing below expectations. These facts can prove crucial to the selection of genuine winners and can assist the emerging organisations in maintaining a high standard and improving their sustainability over time.
The criteria used in the EFQM Global Award judging panel include four aspects which are unique to the pharmaceutical industry in the United Arab Emirates. The four aspects are continuing passion, industry focus, industry leadership and vision. The continued passion of the manufacturers and suppliers of medicines, in UAE, is astounding and they are continuously leading the way in terms of innovation and production capacity. Industry focus is critical in helping these organisations remain relevant in the global market place and industry leadership ensures that the companies retain this status.