Impression of using EFQM model on Economic Value Added (EVA) and standards of financial function assessment

The model of European Foundation for Quality Management, by the name of EFQM model, has been used extensively in Europe and other countries of the World and recently introduced as a base model to assess and present the "EFQM Excellence Award". The specification of this model has a strong viewpoint to business process of organizations and offers the necessary methods to attain an eminent organization. This research turns to this subject that “how quality management systems have been able to improve the function of organizations.” Tow groups of theories were tested to answer the above question. The first group of theories refers to this point that “is there any meaningful correlation between acquired privilege based an EFQM model assessment and indices of financial function.” The second group of theories refers to this subject that “is there any meaningful difference between the indices of financial function before and after performance of EFQM model.” Statistic societies of this research are the companies which have put the EFQM model into practice and after assessment and survey based on the model, they have succeeded to gain the license, letter of appreciation or EFQM Excellence Award. Considering being normal or abmoral variable distribution, it has been used Spirman or Pearson's correlation coefficient in test of the first group of theories and considering a number of observations, it has been used nonparametric tests wilcoxon in experiment of the second group of theories. The results from the test of first group of theories show that there is meaningful and positive correlation between the acquired privileges based on EFQM model assessment and EVA but the obtained results from this test have not confirmed correlation between acquired advantages based on EFQM model assessment and sale, finances efficiency rate and shareholders` fees. The obtained results from the test of second group of theories show that there is a meaningful difference between EVA, finances efficiencies and shareholders` fees before and after performing EFQM. With regard to the results of the first group of theories, the meaningful difference between EVA before and after performing EFQM can be resulted from this model but the existing difference in finances efficiencies before and after performing the model can be resulted from other factors. Due to the obtained results and considering the capability and the point of profit-expense, it is suggested to organizations to use EFQM model to improve their function.