Abstract:
The European Model for Business Excellence is a popular management framework, introduced in 1992
by the European Foundation for Quality (EFQM). The EFQM model represents the principles of the
Rhineland - or stakeholders approach. According to this management approach the corporate
environment is being represented as a complex field of stakeholders, whose interests need to be
reckoned with. Ultimately, these stakeholders would not accept an organization realizing its goals at
their expenses. In the opposing, Anglo-Saxon approach, the corporate environment predominantly
consists of shareholders, and the striving for shareholder value is the ultimate task for companies
