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Malcolm Baldridge Quality Award

The Malcolm Baldridge National Quality Award (MBNQA) program was initiated in 1987, to promote competition among U.S. businesses and drive quality awareness by recognizing the outstanding achievements of U.S. companies. The award acts to publicize the companies performance in business excellence. The program is controlled by the U.S. Commerce departments National Institute of Standards and Technology (NIST). (Baldridge National Quality program)

The MBNQA promotes a businesses future success. If you consider, for example, that for the fourth year in a row, the fictitious "Baldridge Index" has outperformed the Standard & Poor's (S&P) 500 by almost 3 to 1, according to the Commerce Department's National Institute of Standards and Technology or NIST. To prove this point NIST took a hypothetical $1,000 and invested it in six of the companies awarded the MBNQA from 1988 to 1998. NIST found that the group of six companies outperformed the S&P 500 by more than 2.7 to 1, achieving a 394.5 percent return on investment compared to a 146.9 percent return for S&P 500 (Baldridge Index).


The award was the result of countless hours of hard work, dedication to excellence, and a willingness to be innovative, that began in the early 1990s.



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Approximate Word count = 1254
Approximate Pages = 5 (250 words per page double spaced)


  

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