Daily press, 2020-11-30, 03:41 PM
Continuous improvement honored: thyssenkrupp Hohenlimburg awarded Ludwig Erhard Prize in silver
The Ludwig Erhard Prize is awarded to German organizations that particularly embrace the idea of excellence. A “lighthouse project” or an outstanding idea alone is not enough for this award – the Ludwig Erhard Prize is about much more: In the spirit of the former Minister of Economic Affairs and Federal Chancellor, it honors holistic management achievements that take account of the business success, competitiveness and social responsibility of companies. This prize in silver has now been awarded to thyssenkrupp’s precision strip specialists.
Assessment under unusual circumstances
thyssenkrupp Hohenlimburg is a long-established company that has applied this excellence approach systematically over the past six years: In particular, efforts aimed at increasing digitization are now starting to reap rewards. “I’m really impressed by the way our employees have identified and seized the opportunities presented by our digitization and change processes. They have developed new strengths, skills and ways forward that are particularly helpful in the current situation,” says Norman Baltrusch, CFO of thyssenkrupp Hohenlimburg. “These days no company can stand out from the competition on the strength of its products alone. They need an approach that integrates processes, mindset and production in keeping with the excellence approach.”
The most important component of the complex jury-based assessment process is the self-assessment by the company itself. Another core element is interviews with employees, because management performance is also judged by the extent to which employees are involved in improvement processes. Having already been awarded bronze in 2018, this year thyssenkrupp Hohenlimburg demonstrated how far it has come in the improvement process by taking silver. “Winning the Ludwig Erhard Prize in silver in 2020 with all the problems caused by the coronavirus crisis is a fantastic achievement by everyone involved,” says Baltrusch, praising the efforts of the 45 thyssenkrupp employees who made it possible.
About the Initiative Ludwig Erhard Prize
Under the patronage of the Federal Ministry of Economic Affairs and Energy, the prize aims to promote the idea of the social market economy and reward business achievements that benefit consumers, strengthen employee identification and protect the environment. It also honors activities that promote social harmony.
The prize is awarded for holistic management achievements that build on the basic idea of excellence – customer orientation, process optimization and innovation – and promote the sustainable development of companies in the competitive arena. Applicants for the Ludwig Erhard Prize take into account the requirements of the EFQM model developed by the European Foundation for Quality Management in their application. The Ludwig Erhard Prize thus stands alongside internationally recognized awards for total quality management such as the Malcolm Baldrige National Quality Award (MBNQA) in the USA, the Japanese Deming Prize and the European Excellence Award.