Enterprise 50 – Objectives of the award

• To promote a greater pursuit of excellence amongst the small and medium enterprises.
• Recognise the contribution of SMEenterprises which are well positioned for the future.
• Definition of SMEs:

Benefits to the winners

• Visibility in the media, particularly in Business Times, Media Prima & Malaysia SME.
• Automatic adjudicated into the Prime Minister’s Industry Excellence Award Programme.
• Automatic nomination for the National Productivity Award.
• Benchmark their performance against their peers.
• Recognition from the government & public sector.
• Be included in activities organised  by SME Corp and related Government organizations.
• Use of the Enterprise 50 logo on corporate collaterals as a mark of performance distinction.
• Winners will be recognised by existing and potential business partners, financiers and customers;
  and also be held up as role models for their peers.
• Entry to the Enterprise 50 Alumni.

Enterprise 50 2010

MOST FREQUENTLY ASKED QUESTIONS:    

1)    How many companies participated every year?

There were about a hundred over nominations received yearly.    

2)    How do you decide which companies to visit? / If I am visited, does that mean I am a winner?     

The evaluation committee will randomly select the companies to visit.  

3)    What is the purpose of the company visits?

The company visit allows the evaluators to verify the authenticity of the fact and figures in nomination forms. It is also an opportunity for us to better understand the companies.

4)    Who will be on the selection committee?

Independent industry representatives, the organisers and sponsors.

5)    When will we know the results?

Companies who have made it to the Enterprise 50 2011 list will be officially informed in September/October. The detailed rankings will only will be made known at the award dinner on November 18, 2011.

OTHER COMMON QUESTIONS:

On the background and history of the award programme :

1)    Why are you launching the award again this year?
We recognise that these are difficult and challenging times, but we are encouraged by the continued success and enterprising spirit of some of our local enterprises. We believe that those who are able to thrive in today’s economic climate should be given a pat on their backs and encouragement from all of us to continue to perform. We believe that there are still good companies out there who are keen to improve their performance and want to be recognised for their achievements.

The focus this year will be in saluting those companies that are well positioned for the future.

2)    How does a company participate?
Enterprise 50 is a nomination based award programme. Companies need to submit information about themselves via completed nomination forms, to the organisers for consideration for a spot in the top 50 places.

To be eligible, companies:

• Need to fulfill the definition of SMEs and locally incorporated under the Company’s Act 1965;
• Not be listed on any stock exchange, including ACE Market (formerly known as MESDAQ);
• Can either be a parent company or a subsidiary. If the parent company participates, all subsidiaries will not be eligible. However, if the parent company doesn’t participate, all subsidiaries are eligible. In the case of participating company is a subsidiary of a listed parent company, their revenue contribution should not exceed 75% of the parent company’s TOTAL revenue; and
• Must have three years audited financial record for year 2008, 2009 and 2010.

On the nomination response :

1)    How many of the past winners have come back again for nomination yearly?
Out of those who are eligible (with some have gone on to the Malaysia Bourse and ACE Market) about 35% of past winners has returned.

On the evaluation process :

1)    How does the evaluation works?
Two areas will be evaluated i.e. Active posturing - assess how the Company has positioned itself for future success; Operational finesse assess the Company’s current efficiency and operational readiness.

Under the Active Posturing, the Company’s understanding of Competitor and its Industry, its deliberate and thought out Strategy and Business Plan and Resource Alignment – How effective are the use of the Company’s resources will be evaluated.

Within the Operation Finesse scope, the current financials will be evaluated, Revenue growth – measures operational effectiveness, Operating margin – measures operational efficiency, Asset efficiency – evaluates the company’s investment efficiency and Expectation- evaluating the factors that influence the company’s future prospects.

2)    Why 50? Why not 100, 200?
We believe that 50 is an appropriate number given a country of our size.

3)    How can SME Corp and Deloitte endorse the list and be considered as an independent panel of judges since they are already the organisers?
The Steering Committee has no basis for or against any of the nominees and thus remains independent. A Panel of independent judges has been invited to endorse the list.

4)    Will preference be given to organisations involved in a particular area?
We consider all fields of business to be important to Malaysia’s continuing growth. As such, we do not confine the awards to any particular area.

5)    What do the nominated companies have to do for the organisers?
Nominees as well as winners have no obligations to the organisers.

6)    Is this an internationally recognised award?
Enterprises 50 is designed to be local award that takes into account local  believe that it will be recognised internationally for what it is – an award for business excellence in the local market. Singapore and Indonesia currently have a similar award.

7)    What happens to the 2010 winners now that the 15th run of the award programme is launched?
Enterprise 50 is an on-going annual award. Each year, there will be new winners. Enterprise 50 winners from previous years will join the Enterprise 50 Winners’ Alumni. There are ongoing networking opportunities for all winners.