The New Wave in Business Management

Abstract

Companies use strategic management models more than ever to maintain a competitive edge. One of the major problems is how to create and maintain high performance, thus ensuring long-term profitability and sustainability. The business excellence models (BEMs) provide the definition of basic strategic competencies that will provide sustainable competitive advantage through self-assessment. However, considering today's circumstances, re-evaluation of these models becomes a must. In this study, firstly development of BEMs and their changes over the years are examined. The main purpose of this comprehensive analysis is not only to provide an updated overview of existing studies but above all to emphasize what type of changes are necessary considering new trends. In this respect, models are compared both among their different versions based on criteria weights and with each other based on emerging trends. Then, in accordance with the literature review, collected metadata, and comparisons, new requirements are presented.