European Foundation for Quality Management Excellence Model Can Encourage ISO 26000 Implementation

Interest and initiatives related to Social Responsibility, ISO 26000 and EFQM Excellence Model, have increased over last decade. Strategic management models are framework for achieving sustainable growth and sustainable competitive advantages. The purpose of this paper is to trace and define the relations between several European Foundation for Quality Management (EFQM) criteria and the components of ISO 26000 as well as total responsibility management and interrelations between organizations and their stakeholders. In the light of the analysis, the systemic and holistic EFQM model may be considered as a tool for the governance and implementation in the corporate strategy according to ISO 26000 recommendations. The ISO 26000 standard tries to link with the EFQM Excellence Model. This paper considers that the social responsibility perspective is a key element of the EFQM Excellence Model, which includes stakeholders and potential contribution to the sustainable development. Organizations pay from year to year more attention to continual quality improvement and implementation of EFQM Excellence Model, including social responsibility models, and their interrelations reflect the real and potential synergies like sustainable competitive advantages, sustainable cooperative advantages, and sustainable cooperative excellence in the future.