Exploratory study of quality and excellence approaches and continuous improvement from the perspective of new institutionalism

This paper is based on the findings of empirical research conducted in 110 Slovenian companies. Using statistical methods, we examine the effect of the EFQM Excellence Model on the institutionalization of total quality management (TQM) tools and approaches, as well as financial results to motivate TQM implementation. Within the whole grow, of companies, special attention was paid to the results of applicants for the Slovenian Business Excellence Prize (SBEP), which were compared with other companies. The SBEP group showed better results compared with the other companies with regards. to benchmarking, peer assessment, participation in quality and excellence awards, knowledge sharing, self-assessments and financial results.