EMPHASIS IN ENVIRONMENTAL, SOCIAL, AND CORPORATE GOVERNANCE [ESG] IN BUSINESS EXCELLENCE FRAMEWORKS

Year 2020, Proceedings of The Third Economics, Business And Organization Research (EBOR) Conference, 126 - 132, 31.12.2020

Lee Pui Mun

Abstract

Business Excellence (BE) Frameworks such as the Baldrige Framework and the EFQM Model have led the drive to improve business performance in many countries over the past 30 years. Many BE Frameworks have since been established globally to promote business excellence in their local organizations. These frameworks have been used to guide both for-profit and not-for-profit organizations to systematically improve their internal operations and structure as well as management practices. The frameworks are also used as the basis for identifying excellent organizations to qualify as recipients of national Excellence Awards or Quality Awards in many countries. As BE Frameworks are adopted by many organizations globally, it would be of social and research interests to identify the extent of emphasis that environmental, social and corporate governance (ESG) requirements is represented in many of these frameworks. This paper attempts to review the extent of ESG requirements in some of the major frameworks. The methodology used literature review to identify major frameworks followed by an analytical and comparative study of the extent of ESG emphasis in the major frameworks. Findings from the comparative study provide a better understanding of how BE frameworks support ESG and also provide discussions and suggestions on improvements could be made to the BE Frameworks to reinforce ESG considerations as an important and integral attribute of business excellence in organizations. Findings and discussion from this paper will encourage BE frameworks to adopt progressive ESG practices in 21st corporations that will benefit society.

Keywords

ESG, Business Excellence, Quality, Sustainability, Leadership, Management

References

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