SME UAE Business Awards Methodology by Morison Menon

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Morison Menon Chartered Accountants provides professional advisory services in the areas of
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SME UAE Business Awards Methodology by Morison Menon

  1. 1. SME Awards 2010 Methodology
  2. 2. Award Highlights• 22 categories of awards, recognizing: o Industry achievement - 14 awards o Business functions - 3 awards o Support partners - 5 awards• Nominations received from 3400+ SME’s from UAE• Award recognizing the "women entrepreneur" and "best new business"• Only one award from each category
  3. 3. Category - Industry Achievement Awards • Trade • Hospitality and tourism • Manufacturing • Construction and real estate • Retail • Green business of the year • Media and marketing • Admirable woman entrepreneur • Professional services • Emirati entrepreneur of the year • Health and wellness • Business star of the year • Technology and online • The one to watch (best new business)
  4. 4. Category – Business Functions• Effective financial implementation• Incredibly innovative approach• Best technology implementation
  5. 5. Category – SME Support Partners• Consultants• Transportation and logistics• ICT support and services• Banking and Finance• Insurance
  6. 6. Nomination Criteria• All SMEs with valid trade license of UAE• Employee strength not exceeding 500 *• Annual revenue not exceeding AED 100 million*• Self nominations• Nominations for more than one category of award permitted* Excludes for SME support partner category awards
  7. 7. Criteria for Initial Screening• Annual turnover• Employee strength• Year of establishment• Completeness of the nomination application
  8. 8. Criteria for final Selection• Management Strength - 20 points o Management philosophy and Visionary leadership o Ownership pattern* o Role model to other women (applicable for admirable women entrepreneur award) o Representation to women in employment o Shining example of perseverance• Products and markets - 15 points o Number of countries to which exported o Categories of products targeting the market segment o Any intellectual property in company’s name* Applicable only for “Emirati entrepreneur” and “Admirable Women entrepreneur award”
  9. 9. Criteria for final selection• Operations - 20 points o HR policies and training o Use of automation in operations o Quality systems and processes o IT system and processes o Adoption of green technology o Website/Social Media promotion• Financial performance - 20 points o Net Profit Percentage o Revenue Growth Percentage o Net Working Capital (Current Assets - Current Liabilities) o Return on Equity (Net Profit / Capital Employed)
  10. 10. Criteria for final selection• Contribution to the national/regional development. - 10 points o Made in UAE o Employment to nationals o Number of branches in UAE and GCC countries o Corporate Social Responsibility (CSR) Initiatives• Customer Focus - 15 points o Use of metrics o Customer related practices/ Customer relation officer
  11. 11. Ranking Methodology• Panel of five Judges from different industry segments involved in selection process• Uniform scoring mechanism used to reduce induced variability• Cumulative highest scorer declared winner in each award category• In case of tie, the maximum score in a particular criteria in the following order was considered o Contribution to national and regional development o Management strength o Customer focus o Financial performance o Operations o Products and markets
  12. 12. Role of Morison Menon• Devised the scoring and weightage for each criteria• Compiled the scores provided by the independent judges to arrive at the winners• Short listing and evaluation of nominees based on review documents and questionnaire provided by the nominees

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