Porter Prize comes to India

NEW DELHI: Porter Prize - The most Coveted awards in the field of Strategy and Competitiveness named after Professor Michael E. Porter, Harvard faculty member and Father of the modern strategic field Professor, are being organized outside Japan for the first time in India. The Prize will recognize and honor Indian companies which embraced the best Strategic Management practices.

The Porter Prize has been constituted for Indian Companies by Institute for Competitiveness (India), the Indian knot in the global network of the Institute for Strategy and Competitiveness at Harvard Business School. The prizes will be given away on September 28, 2012 in New Delhi.

The objective of the Porter Prize is to recognize Indian companies at National as well as at International level in the field of Strategy and Competitiveness. The application process has already commenced wherein all the participating companies will obtain certain benefits.

The annual Porter Prize akin to the Deming Prize, was established in Japan in 2001 in the name of Professor Michael E. Porter to recognize Japan’s leading companies in terms of strategy. He is a leading authority on competitive strategy, the competitiveness and economic development of nations, states and regions, and the application of competitive principles to social problems such as health care, the environment, and corporate responsibility.

Porter Prize will not only assess and award the best companies but will also assist the participating companies to get a deeper hold on their strategy.

It is an opportunity for the companies operating in India to test themselves on the basis of their strategy and receive the prestigious Porter Prize award. There are 16 industry-based classifications, namely:

· Finance, banking & insurance · Food & beverage · Healthcare, Pharmaceutical & Social Assistance · Information, Telecom & Data Processing · Education, Training & Educational Services · Retail & wholesale · Utilities, Electricity, Gas, Water & Power · Arts, Entertainment & Recreation · Construction, Real Estate & Steel · Petroleum, Chemicals & Plastics · Transportation, Logistics & Aviation · Textiles & Apparels · Computers & Electrical Appliances · Tourism & Hospitality · Automobiles · Media

In addition to the above, five other awards will be given, they are:

· Porter Prize for Industry Architectural Shift · Porter Prize for Creating Distinctive Value · Porter Prize for Leveraging Unique Activities · Porter Prize for Exploiting Trade-offs · Porter Prize for Creating Shared Value