Assessment on feasibility and ability to anticipate
The European Classification Standard® [EC-Standard®] is a practice-oriented management assessment that focuses on strategic entrepreneurship and on the enterprise’s ability to anticipate. The EC-Standard® consists of a methodology and the unique benchmark thereof. A number of specific management tools, which were developed for the EFBQ, provide this methodology with shape and structure:
- EFBQ Questionnaire – an extensive questionnaire in modular form. Parts of it can be used by participants to fill certain gaps in the strategic entrepreneurship. Read more.
- EFBQ Quick Start Module – tool for a quick and flexible formulation of a strategic plan. This manual results in a limited number of A-4 sheets, which makes it possible to act quickly with regard to managing and adjusting the organization. Read more.
- EFBQ Strategic Sets of Questions – six sets of questions assist the board and/or management team with concretely formulating the strategic framework of the organization. Read more.
The EFBQ participants may use the tools provided, as well as choose to apply for an EFBQ assessment with their own strategic plans. This assessment measures the foundation and the feasibility of the adopted policy, the state of the enterprise, the cohesion and consistency of the management, and the extent to which the policy is geared to the market situation and demand.
During the assessment, over 60 aspects of the organization’s policy are compared to the EFBQ benchmark. The standard is determined by the “best in class” (i.e. the top score). A currently assessed participant may have earned this, but in some cases, companies that were assessed in recent years have achieved this score (>200 assessed companies). They form the benchmark for one or more policy aspects until a newly assessed company achieves a new top score. This system ensures a regular reassessment of the methodology, because the relative value of a score that was once high may decrease in the context of a continuously improving network of enterprises that never cease to learn.
The EFBQ assessment is conducted by two assessors, the Preferred Assessor and the Coordinator of the EFBQ’s Assessment Centre, and consists of two main components: verification interviews and document examination. An assessment will not require more than half a day from each member of the management team to prepare the examination (collecting the strategic and operational documents that are used to manage the enterprise) and have the verification interview with the assessors.
A “mirror” on strategic entrepreneurship
The EFBQ network consists of approximately 100 enterprises that operate in various branches and have different ownership structures, both family businesses and operating companies that are part of a larger corporation. In terms of size, the companies range from having at least fifty to thousands of employees with revenues varying from several millions to over a billion of euros. Within this network, the knowledge and experience available are exchanged among the participants in several ways in order to provide them with a “mirror” on their own strategic entrepreneurship.
The EFBQ assessment forms, so to speak, the “core product” of the foundation, which is supported and reinforced by complementary products and services that are often customized to a greater or lesser extent. A few examples:
- EFBQ Business Review
- EFBQ Management lunch/dinner
- Workshop Quick Start
Read more about the complementary services.
The EFBQ offers a large number of “management tools” with which the participating companies can facilitate and/or structure their strategy formulation and its application to the operation. This enables the realization of considerable time savings, as bigger steps can be taken over the same span of time.
The EFBQ Peer Group participants apply a large number of management tools in practice. The EFBQ organization facilitates the mutual exchange of these tools as well as the knowledge and experiences that have been acquired by using these tools. In addition, the “EFBQ Toolbox” is constantly being supplemented with emerging new tools, which can potentially provide added value to the strategic and operational management.