Corporate recognition awards are given for a wide range of achievements including best customer service, product innovation, contribution to the community and service to the nation or the environment. Managers and companies compete in their town, state or country against organizations in the same business or in totally separate fields. The motivation for winning any of these business awards usually appears to be driven by the same two desires: to gain the respect of those who could be potential business partners; and to increase customer brand loyalty.
In terms of prestige, the number one award in the United States is the Malcolm Baldrige National Quality Award. Applying for this award requires great dedication from the company. There are tough requirements and a team of external raters will visit the company several times. Successfully completing the process can take the help of experts like those at business awards. A recent winner of the award, Motorola, Commercial, Government, and Industrial Solutions Sector reported that their experience was highly positive. They experienced positive benefit from being recognized in their industry as leader, certified by a trusted third party. They strengthened their brand recognition as a result and positioned themselves in the marketplace ahead of their competition.
A second prestigious award is The Stevies are given in four categories: The Stevies for Sales and Customer Service, The International Business Award, The Stevies for Women in Business and The American Business Award. The winners find themselves holding a statue of a figure holding a crystal pyramid aloft. This pyramid reflects the hierarchy of human needs, a theory documented in the 1960s by psychologist Abraham Maslow. He found that once they meet their basic needs, humans desire the esteem of their peers. A business award is a clear reflection of that esteem.
As well as finding that they gain increased industry visibility awards winners find that other companies are much more willing to discuss business with them. For instance, some small business awards winners have reported being approached by venture capitalists as a result. They are also internal benefits such as raised employee morale and rising performance. Applying for and working to win an award is a positive action that will lead to greater profits in the long term.
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