EFQM and business model relation effect on performance of manufacturing enterprises

• Published in: International review (Faculty of Business Economics and Entrepreneurship) Vol. 2023; no. 1-2; pp. 39 - 47
• Main Authors: Petrović Tijana, Paunović Vladan, Komatina Nikola
• Format: Journal Article
• Language: English
• Published: Faculty of Business and Entrepreneurship, Belgrade 01-01-2023
• Subjects: business model; correlation analysis; efqm; fsaw; fuzzy data
• ISSN: 2217-9739; 2560-3353
• DOI: 10.5937/intrev2302050P

In the changing business environment conditions, one of the primary management tasks is competitiveness enhancement. This goal can be achieved, among other things, by improving performance, which has the greatest impact on business success. This research paper aims to indicate that the alignment between the European Foundation for Quality Management (EFQM) model and the business model leads to an increase in enterprise performance. By applying the Fuzzy Simple Additive Weighting (FSAW) method and fuzzy algebra rules, the aggregated value of quality was calculated. Determining the value of the considered performance is set as a fuzzy decision-making problem. Aggregated performance value is given by fuzzy geometric mean with combined fuzzy algebra rules. By applying correlation analysis, the significance of the influence of business models and quality models on the value of performance was determined. The proposed model was tested on a sample of 20 SMEs that operate in the Republic of Serbia.