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Well-known quality management principles of the ISO 9000 standards have direct links to quality management. They consist of eight principles, of which the seventh principle, “Factual approach to decision making”, is closely related to business facts and measurements. Also performance excellence models (quality awards criteria) include good management principles that emphasize the importance of business facts and information in management. The American Malcolm Baldrige Model, for instance, defines eleven core values and concepts for excellent management. One of those, “Management by fact”, is very relevant to our topic. Aspects of the factual information and measurements are as an implicit flavor also in the EFQM model In all cases, the factual management principle has significant links with all other management principles in order to understand the management discipline holistically. As a summary, these recognized good management principles of standards and excellence models present that: Organizations depend on the measurement and analysis of performance. Such measurements should be derived from business needs and strategy. Many types of data and information are needed for performance management. Measures and indicators should support decision making in a rapidly changing environment. Making decisions and taking actions should be based on factual analysis, balanced with experience and intuition. Data and information should be sufficiently accurate and reliable. Data and information must be analyzed by using valid methods. Data and information should be made accessible to those who need it. Performance improvement and change management involve the selection and use of adequate performance measures or indicators.
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