RANK 1

SECTOR WINNER
Listed (1)
Banking (1)

Q: How relevant are awards and accolades for businesses today, given the growing competition from both local and international players?

A: Awards and accolades remain highly relevant for businesses especially in an increasingly competitive landscape. They serve as powerful tools for differentiation, validating a company’s excellence, innovation and credibility in the eyes of customers, investors and industry peers.

With markets becoming more saturated and consumers overwhelmed with choices, awards act as trust signals, influencing purchasing decisions and reinforcing brand reputations. For businesses competing globally, accolades can open doors to new markets, showcasing their strengths on international stages.

Locally, awards help companies to stand out, attracting top talent, partnerships and media attention. They also provide valuable marketing leverage, amplifying visibility and reinforcing messaging across platforms.

However, their impact depends on relevance and authenticity. An award closely tied to a business’s core values or industry carries more weight than generic recognitions.

While awards are not a substitute for delivering real value ultimately, they can accelerate growth and solidify a company’s position in a crowded marketplace, making them an invaluable asset in today’s fast evolving business world.

Sanath Manatunge
Managing Director
Chief Executive Officer

Q: How should award schemes be designed to inspire and influence companies to achieve holistic growth?

A: Award schemes should be designed to inspire holistic growth by recognising not only financial success but also innovation, sustainability, employee wellbeing and social impact. A well-rounded framework with diverse categories encourages companies to strive for balanced excellence across all dimensions of business.

Transparent, merit based evaluation processes build credibility, motivating companies to pursue meaningful improvements rather than chase superficial wins. Including feedback for participants – even those who don’t win – turns awards into learning opportunities, guiding businesses on where to grow.

To foster long-term impact, award schemes can spotlight trailblazers as role models, sharing best practices and success stories. This creates a ripple effect, encouraging others to adopt high impact strategies.

Finally, evolving award criteria to reflect emerging global challenges such as digital transformation, artificial intelligence, environmental responsibility and ethical leadership keeps businesses future focussed.

When thoughtfully designed, award programmes can become catalysts for positive change, driving companies to grow not merely bigger but better.

Q: How can awards and accolades consolidate a company’s reputation as a trustworthy brand?

A: Awards and accolades from reputable institutions can extensively strengthen a company’s reputation by acting as third party endorsements of its excellence, integrity and impact. When a business is recognised by reputable organisations, it validates its achievements and signals to customers, investors, employees and partners that the company meets high industry standards.

Trust is built through credibility, and winning awards showcases a company’s commitment to quality, innovation and continuous improvement. Accolades serve as tangible proof points, reassuring consumers that they are choosing a brand recognised for its reliability and performance.

Public recognition also amplifies a company’s visibility, reinforcing positive perceptions. Highlighting awards in marketing campaigns, websites and product packaging helps establish instant credibility, making it easier to attract and retain loyal customers.

Moreover, awards reflecting ethical practices, sustainability efforts or community contributions enhance emotional connections with audiences. Consumers increasingly support brands aligned with their values – so recognition in these areas builds lasting trust.

In essence, well-earned awards are more than simply trophies – they are trust signals that consolidate a brand’s reputation, setting it apart as a leader that consistently delivers value and upholds its promises.

Q: How do awards align with your organisation’s values and goals?

A: The enduring success of Commercial Bank of Ceylon over the past century can be attributed to our steadfast commitment to core values including honesty, integrity, responsible citizenship, fairness, accountability and the unwavering dedication of our teams to ensure customer service excellence.

Our organisation places paramount importance on upholding these values while concurrently navigating the path of a sustainable business model.

While awards are not the primary focus of our organisation, they undeniably play a pivotal role in motivating our team and validating the strategic direction of the bank. Serving as a tangible measure of our competitive standing, awards contribute in a major way to upholding our organisational ethos.

They provide valuable external validation that we are excelling in our endeavours. This recognition further reinforces our commitment to excellence and adds a layer of prestige to our ongoing efforts.

 

Telephone 2486000 | Email info@combank.net | Website www.combank.lk