Businessman of the Year Award
The criteria for the Businessman of the Year Award are categorised into four areas:
- Financial Performance
- Personal Qualities
- Managerial Skills
- Contribution to Singapore's Development
He/She must have made an outstanding and sustained contribution to his or her organisation. In the case of a public company, for instance, he/she must have contributed to an improvement to the returns on shareholders' funds, and sales, in the light of conditions prevailing at the time. Consideration will also be given to the standard of corporate disclosure of the awardee's company.
In the case of a private company or sole proprietorship, etc he/she must have contributed to an improvement on return on capital invested. Reducing a company's losses is also considered an achievement. This would be regarded as a contribution to the stability of the organisation.
- The awardee's integrity should be of the highest standard
- Entrepreneurial abilities
- Personal contribution to an organisation outside the realm of his/her immediate business interests. It is a merit point for the awardee if he/she has made such a contribution
- Depth of Management
The awardee should have contributed to the raising of management skills and the establishment of a viable organisational structure.
The awardee must have adapted to the changing environment and demands.
The awardee should have displayed perseverance and tenacity in working towards objectives.
- Leadership Qualities
The awardee must be someone who has won the respect of his/her subordinates and whose actions set an example for his/her organisation. He/she should be adept at motivating employees.
The awardee must have made a substantial contribution to improving the output of his/her employees.
The awardee should have an innovative approach to his/her business affairs.
- Good Labour Management
The awardee should have a track record of establishing and maintaining harmonious relations in the organisation.
Contribution to Singapore's Development
The awardee or his/her organisation should have made a positive contribution to Singapore 's development. This includes contributions in the economic, social and cultural areas.
Rules of Eligibility
- The awardee should be involved in a business enterprise
- He/she should either be a Singapore citizen or ordinary resident in Singapore
- There is no restriction on sex, age, or race