The prestigious Asia’s Most Admired Companies Awards gives each and every business a distinct chance to showcase their excellence in terms of business practices and their personal established benchmarks which they rigorously accomplished.
HOW THE SELECTION PROCESS WORKS?
To make sure that the deserving companies get their share of admiration for their efforts and achievements, we have devised very well-made judgement criteria to ensure that the ones who deserve the awards get their share. Below we have debriefed it-
Nomination – Stage 1
The first stage of the awards is the nomination stage, which is to be done by the companies by filling our online form on our website. It is either filled by the companies or by a third party having some kind of business association with the company. It is important that the company that is being nominated believes that they have the ability to win the award.
You can view the online nomination form under the Nomination section on the website.
Initial Screening – Stage 2
This stage of the selection process is done by our research team on the basis of the information that is submitted by the companies. The companies which have provided all the relevant information in their nomination applications are approved and allotted a specific category as per their industry to which they belong to and are forwarded for the detailed evaluation process.
Evaluation – Stage 3
Any company that pulls through the initial screening process is then evaluated by our highly competent market research team on some important factors and parameters such as employee retention, creativity, culture of the work place, company’s financial soundness, management, satisfaction of the customers, services and products of the company, goodwill, visionary leadership, sustainable business practice, corporate social responsibility, etc.
Based on the company’s performance on all of these parameters and their category, every company is given a score that ranges between 1 and 10. It must be noted that the score is awarded here is based on the nomination application as well as some of the secondary research that has been done by our market research team.
The overall score here is based on the average marks of all the parameters.
Jury Scoring – Stage 4
The companies that are evaluated in the third stage are further accessed, this time by our esteemed jury, which has been carefully chosen to do this tedious task. This jury consists of some of the best people from various industries and fields of work such as Business, Media, Advertising and an international expert advisor. This stage of selection also involves scores ranging from 1 to 10.
Final Stage – Stage 5
In this stage the score that a company gained in the process of being evaluated by our marketing research team and by the esteemed jury is totalled up and the cumulative average score is considered to be the final score of a company.
A point here to be noted is that by this stage, a company must have a cumulative score of minimum 7.5 marks so that they can qualify as a winner. In the end, the final decision concerning the selection and the disqualification of any company solely lies in the hands of our esteemed jury and the management committee of IBC.