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| Sunday, 20 June 2004 |
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Business |  |
| News Business Features Editorial
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NCCSL launches annual awards The National Chamber of Commerce of Sri Lanka (NCCSL) has begun an annual competition with a view to recognise and reward business enterprises which have demonstrated excellence in business, whilst contribution to the economic progress of the country. Answering questions from media, NCCSL President, Asoka de Z Gunasekara said that the awards in question would encompass every aspect of business and cover the private and public sectors. Other awards include those for exports, volume of exports, best corporate report and other achievements. This awards presentation would, besides, enable business houses understand where they stand in the different disciplines of business, NCCSL Secretary, Lal de Alwis said. Entries would be accepted from this week, and the awards are scheduled to take place in November. The awards are intended to: Recognise and reward contributions made to the economic progress of the country, in realised growth; Recognise enterprises which have created capacity for economic growth and employment generation, being future growth and recognise enterprises which have built sustainable global market competitiveness, being sustainable growth and recognise enterprises who have institutionalised best practices and business excellence. The award categories comprise, extra large, having more than 5000 full-time employees; total capital employed, being more than Rs 2.5 billion and a turnover of more than Rs 2.5 billion. The large category would have 500-5000 full-time employees, with a total capital of Rs 50 to Rs 250 billion and turnover of Rs 500 million to Rs 2.5 billion. The medium category would have 50 to 500 full-time employees; total capital employed being Rs 50 to Rs 250 million and a turnover of Rs 100 million to Rs 500 million. Small businesses would have less than 50 full-time employees, have total capital employed of less than Rs 50 million and a turnover of less than Rs 100 million. The evaluation procedure would include, (First Stage) - desk review - Reviewed by technical panel and preliminary marks indicated; Second Stage - site visit - an expert panel will visit the short listed organizations; Third Stage - judges' final review - The panel of judges would make the final selection. Evaluation Criteria: global reach (weightage) - 10%; realised growth - 20%; knowledge integration - 10%; capacity building - 15%; sustainability - 15%; block buster performance 10%; performance management - 5%; corporate governance - 5%. The classification of awards would be in gold, silver and bronze. Excellent Business Awards will be made for: * Agriculture, livestock, mining, quarrying and fisheries; * Utilities and infrastructure; * Leisure and entertainment; * Technology relates services; * Processing, manufacturing, industrial engineering; * Banking and insurance; * Financial Services; * Other Services. Benefits: Dedicated web site and database of industry performance benchmarks; virtual hall of fame; inclusion in the Chambers' automated mailing list and entitle to receive chambers' communication materials; opportunity to participate to overseas countries and foreign training programmes; recognition at various events sponsored by the chamber; winners to be showcased in leading business journals. The overall winner will receive a trophy represented by a lotus flower and steps leading to it. The Lotus is a symbol of beauty which springs out of mud. Likewise, business enterprises have to climb many obstacles, face turbulent times and emerge on top, showing good performance. - E L |
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