In the competitive business world, the only survival mantra is to do the work better. An organization in the process of redefining itself through continual refinement can ensure its supremacy. But such journey to excellence is easy to talk about and hard practicing, unless the organization has an inspirational leadership as the driving force for its people. Benchmarking of processes, on the other hand, guides the people to strive for the level next. A strong performance management system uses the process of benchmarking and helps leadership to become more rational and strategically focused.

The modern age organization is largely dependent on its institutional capabilities to adapt to change. The changes take place due to external or internal factors. The necessity of changes may also occur due to change in business orientation and organizational philosophy. It is also influenced by the availability of technology and other business inputs. The change in customer taste or expectation or even a slight move by the competitor induces change initiatives within the organization. The nature of changes is either incremental or transformational. Organizations are constantly striving hard to maintain their market dominance by acquiring competitive advantage. But with the advent of a global economy, it has become increasingly difficult to maintain the competitive advantage for long. So, the question is how to build strong and innovative organizations that can survive and prosper during times of change?

Organizational excellence implies systems, operations, activities and values that an organization considers essential for achieving a high-level of performance. The objective of organizational excellence is simple - to match a set standard of performance either by one's own creation or to strive for the standard created by the competitive firm. It is a process of improving organizational effectiveness. To lift the organizational performance from its present state to the desired level involves adopting a multi-pronged strategy.

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