The Australian Business Award for Product Innovation recognises leading products and services that provide innovative solutions for new and existing market needs.
Products can be tangible or intangible and can include but are not limited to manufactured goods, devices, equipment, services, programs, activities, applications, information, knowledge, software, cloud-based services, platforms and systems.
Organisational participation includes private companies, publicly listed companies, multi-national subsidiaries, non-government organisations, educational institutions, franchise systems, partnerships, government departments, government agencies, local government and statutory bodies operating in Australia.
Eligibility includes business to business (B2B), business to government (B2G), government to business (G2B), government to citizen (G2C), business to consumer (B2C) products and services delivered through the private, public and non-profit sectors.
Entries are assessed utilising a robust and dynamic framework to ensure that the assessment process is pertinent and objective. The World Business Awards Framework (WBA Framework) is utilised as a structured model of assessment that enables the participating organisations to be benchmarked against world class performance standards. The Framework consists of specialised assessment modules pertaining to the evaluation criteria for each of the award categories. The criteria and sub-criteria provide a robust set of requirements that are used as the methodology for benchmarking and learning among the participating organisations.
The Australian Business Awards are the regional chapter of an integrated, hierarchical leadership program conducted on a national and international level. Eligible organisations from each region are invited to participate in the international chapter of the program at The World Business Awards. Conducted annually and currently in the second year of its international launch, The World Business Awards seeks to engage with the world’s business, innovation and technology leaders through a global recognition and knowledge building initiative that is underpinned by the program’s established framework. The program engages with organisations worldwide to benchmark the full spectrum of their products, services and initiatives and to review their business performance. The cycle culminates in the recognition and celebration of organisations that implement world-class business initiatives and industry leading products and services on a prominent and far-reaching scale. All entries must be entered in the regional chapter where the organisation is based.
Organisations that participate are provided with the unique opportunity to benchmark themselves against the top performers globally. The recipients are acknowledged for their achievements and recognised as the elite of their industry earning a place amongst a distinguished group by having their products, projects, initiatives, contributions and achievements recognised on a prominent and far-reaching scale. The program provides the ultimate platform for building knowledge, increasing brand awareness, equity, loyalty and retention through increased exposure, recognition and prestige. This establishes a valuable resource that can be used extensively to create opportunities for publicity, positive organisational profiling and heightened brand awareness within the respective industries both nationally and internationally.