VALUABLE ENDORSEMENT
Signalling credibility
Dinusha Bhaskaran
Q: How important are awards in contributing to an organisation’s credibility and reputation – locally and internationally – in your assessment?
A: Awards play a pivotal role in crafting an organisation’s image. They act as a third party endorsement, signifying accomplishments and standards.
At the local level, awards solidify community ties and consumer trust. The recognition often transcends to customers, stakeholders and employees.
On the international stage, they serve as a benchmark attesting to a company’s global prowess.
Q: In what way does the recognition from awards and accolades lead to increased sales or business? And how does an award winning entity realise the true value of such recognition, in your view?
A: Based on what I’ve observed, recognition through awards often translates into enhanced business prospects. In a market brimming with options, awards can be a unique selling proposition, swaying potential clients or customers. The credibility that accompanies awards can also strengthen brand loyalty in the long run.
Furthermore, I’ve noticed that accolades can pave the way for collaborations as businesses might perceive award winning entities as valuable partners.
But the true value of an award is reaped when a company effectively leverages this recognition, intertwining it with marketing strategies, community outreach and continued excellence.
Q: It is often said that ‘there are awards and awards.’ How would you differentiate the awards that corporates win – meaning, what are the keys to such awards being authentic and worthy of the recognition they carry?
A: Awards can be a great way of recognising the hard work, achievements and success stories of organisations, and their teams. The landscape of awards is vast and varied but not all of them resonate with the same gravity.
For an award to truly signify its weight, I believe it needs a few markers.
First and foremost, there should be transparency in the awarding process – it speaks volumes. The reputation of the institution receiving the award is paramount as is the meticulousness of the selection criteria. I’ve always respected awards that are peer reviewed and adjudicated by industry stalwarts.
And furthermore, an award’s history and the calibre of its previous winners can often provide clarity on its worth.
Q: How do you view awards bestowed by media and awarding institutions overseas compared to those that originate from local sources? In short, how does the origin of an award affect its credibility and value?
A: From my perspective, international awards – especially those with broad recognition – come with a nuanced lens. They measure an organisation’s worth against global metrics, offering an external stamp of approval beyond local benchmarks.
Conversely, local awards resonate with regional nuances, shedding light on a business’ local strengths and alignment with community values. While global awards do bring wider prestige, local awards strike a chord with regional stakeholders.
In my opinion, it’s less about an award’s origin, and more about the integrity and openness or transparency of the awarding organisation.
Q: In your opinion, how should award winners manage the expectations that come with being an award winning organisation – both in the local and global context?
A: When I see a company earning an accolade, I believe that the real work begins post-recognition.
Internally or locally, the award should be a catalyst for improvement – a pledge to uphold and even elevate the standards that brought the honour. Externally or globally, it’s all about maintaining a dialogue.
Q: And last but not least, how about the expectations of stakeholders when a business entity wins an award?
A: Stakeholders will invariably expect the company to sustain its award winning quality. The key lies in regular community engagement, showcasing transparent operations and consistently living up to the award’s expectations.
