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Definition: Baldrige Award
Baldrige award, formally known as the Malcolm Baldrige National Quality Award is a recognition for US organizations operating in the business, healthcare, education or non-profit sectors. The organizations are conferred upon this award by the President of the United States. Also, this is the only formal award which awards for performance excellence.
The award program takes place annually, with a maximum of 18 awards across 6 categories viz. manufacturing, service, small business, education, healthcare and non-profit. The award is named after Malcolm Bridge who served as the U.S. Secretary of Commerce during the Reagan administration.
The Bladrige criteria for performance excellence serve two main purposes:
Identifies organizations which will serve as role models for other organizations
Helps organizations asses their performance management system, analyze their strengths, opportunities for improvement.