A key benefit of the Malcolm Baldrige Award for Performance Excellence program is:
A) The increased availability of best-in-practice firms to support benchmarking studies.
B) Its mandate to issue publicly available cost of quality reports.
C) Its requirement that participants adopt the kaizen philosophy of continuous improvement.
D) Widespread adoption of the Taguchi loss function.

Question

Quizplus · Accepted Answer

The Malcolm Baldrige Award for Performance Excellence program encourages organizations to strive for and achieve ever-higher levels of performance, innovation, and customer satisfaction. A key benefit of participating in this program is the increased availability of best-in-practice firms to support benchmarking studies. This allows organizations to compare their processes and performance with those of the leaders in their industry, learn from their best practices, and implement improvements based on these insights.

A Key Benefit of the Malcolm Baldrige Award for Performance