Authors: Fang Zhao, Peter Choma
Abstract: This paper has two specific objectives. Firstly, it aims to develop a new model by taking a stakeholder approach which extends the concept of McKinsey 7S to external dimensions to help achieve business excellence and sustainability. Secondly, it aims to demonstrate how to operationalize the model by applying it to a small business organization. The new model revitalizes the influential Mckinsey 7S model developed in 1980s and better addresses the current needs and context of business, communities, and the environment from the stakeholder perspective.
Keywords: Business Excellence, Mckinsey 7S Model, Stakeholder Theory, Sustainability