In today's competitive market, culture of excellence (CoE) and knowledge sharing (KS) are vital factors for organisations to thrive in the ever-expanding global market-economy. However, most previous studies have paid less attention to CoE especially in developing countries. In addition, they gave less attention to KS as a mediator in the CoE performance model. The purpose of this paper is to investigate the relationship among CoE, KS, and organisational performance (OP) in the sector of industrial companies in Iran, and to develop a conceptual framework based on extensive review of the literature. Based on a review of the literature, a link was established between CoE and OP. Furthermore, this study proposes that KS is a mediator for CoE and OP. The knowledge gained from this research will help the academicians and industry players to have better understanding of CoE implementation in order to improve business performance effectively in the future.