Businessworld Company Awards for the year 2004 will be unveiled in Mumbai on October 29. The awards this year will feature three additional, rapidly-growing industry sectors like IT-enabled services, insurance, and auto ancillaries sectors to represent emerging businesses.
The chief guest for the function will be the Finance Minister P Chidambaram. Those attending the ceremony will include the India Inc chieftains. This year, the awards are being presented by UB group’s premium whiskey brand McDowell’s Signature.
Throwing light on the judging process, DN Mukerjea, Deputy Editor, Business World, said, “Unlike other corporate awards that are based on a jury process, these awards are a peer-perception survey, conducted by India's leading market research firm IMRB”. The survey covers over 1200 senior executives including CEOs. “These awards go beyond the quantitative parameters of companies like profitability and market share and are based on how an organisation is perceived by the industry. Started in 1983, the rational behind this survey was to evaluate the company performance. We wanted to go beyond just numbers and reach the soul of the company”, he added.
There are 19 broad parameters for rating companies including quality, ethics, transparency, dynamism, innovation, customer satisfaction and so on. Besides the title trophy, companies will also contest for three distinctive categories such as the most ethical company, most globally competitive company, and the most dynamic company.