On the social value of quality: An economic evaluation of the Baldrige Performance Excellence Program
- 19 July 2012
- journal article
- Published by Oxford University Press (OUP) in Science and Public Policy
- Vol. 39 (5) , 680-689
Abstract
This study estimates the net social value of the Baldrige Performance Excellence Program. It focuses specifically on a survey population of 273 applicants for the Malcolm Baldrige National Quality Award since 2006. Using a counterfactual evaluation method, social benefits have been quantified from the responses of 45 Award applicants to a web-based survey. We estimate the ratio of all measured social benefits to costs to be between 351:1 and 820:1. This finding certainly supports the belief that the Baldrige Program creates considerable value for the US economy.Keywords
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