PSU Award 2014
Governance Now presents the PSU Awards 2014—the second edition of its prestigious award to honour the efforts of Public Sector Undertakings (PSUs) that have been a key to India’s overall economic growth.
By virtue of being some of the largest commercial enterprises in the country the PSUs possess the unique ability to rise above the short-term commercial interest and invest in creating national assets so as to maximise long-term economic gains.
For standing shoulder to shoulder with the biggest private companies, which are driven solely by the profit motive, this backbone of India’s economy deserves fair share of accolades and the Governance Now PSU Awards 2014 is aimed at doing just that.
The core mission of the awards is to evaluate PSUs so as to instill in them the spirit of healthy competition which year on year would improve their performance and help them serve the larger society in a better way.
The process that was initiated in 2013 is supported by its knowledge partner, the Institute for Competitiveness. The year 2013 saw Shri Praful Patel, the then minister for Heavy Industries and Public Enterprises felicitate 40 PSU winners under five categories and four classes in its first edition. However, based on the feedback from the PSUs, Governance Now has decided to add five more categories in 2014.
The awards will be given to Maharatna, Navratana and Miniratna 1 & Miniratna 2 (including other CPSEs) under the following categories:
1. Strategic Performance
2. Human Resource Utilisation
3. Strategic Turnaround
4. Capital Asset Utilisation
5. Overall Growth and Competitiveness
6. Information Technology Adoption
7. Green Initiative
8. CSR Initiative
The Governance Now PSU Awards 2014 process follows the nomination route. The process starts with filing the nomination for the awards by PSUs. This would include filling in the questionnaire by the PSUs that would help the jury members in assessing the overall level of competitiveness, governance and strategy across the nominated companies. The awards will be based on the decision of the high-powered Jury, which would meet once prior to the awards function to adjudicate the winner in each of the awards categories. This would be followed by an on ground event.
The Governance Now PSU Award 2014 process is designed to evaluate and compare the PSUs performance that are contextual and bear measurable outcome and impact. The Governance Now PSU Award 2014 research team and the Jury will be using the following the Evaluation Parameters to arrive at a consensus on the final winners. However, the research team will also use the Annual Reports of the PSUs and its own research to get further information to verify and evaluate the nominations.
- Profitability = Total Operating Profit / Total Revenues
Human Resource Utilisation
- Labour Productivity: Value Added/ Number of Employees
- Past 5 years revenues and 5 years operating profits
- Capital Productivity: Value Added/ Fixed Assets (Past 5 years)
Overall Growth and Competitiveness
- Total Revenues/ Number of Employees
Information Technology Adoption
- Spending on ICT Initiatives (internal to the organisation)
- Number of ICT / eGovernance initiatives taken up internally by the organisation
- Carbon footprint of the enterprise in the past 5 years (in tonnes of Co2 Equivalent.)
- Total Energy Consumption of the PSU’s in KWh
- Carbon Credit claimed
- Amount spent on CSR Initiatives
- Number of projects undertaken in CSR
- Number of lives impacted (directly)
- Name of third party implementation agency / NGO involved with the initiative
- Amount spent on R & D
- Number of patents filed (including technology, product and processes)
- Number of copyrights obtained
- Amount of commercialisation of the copyrights obtained
- Number of new products/services rolled
- Revenues from these new products and services as a percentage of total revenue
- Man-days of training (actual) in the organisation
- Average number of days of training for CXO’s (Out of 365)
- Number of HR Personnel (for calculating HR to employee ratios)
- Number of organisations doing HR Training in the PSU
- Attrition as a percentage of total employees
- Training budget as a percentage of Total Costs
Guidelines & Timelines
- The Governance Now PSU Awards 2014 is limited to Central PSUs only. All CPSEs are eligible to send in their nominations.
- With a view to encourage a level playing field for applicants, the entries are invited in four separate categories—Maharatna, Navratna and Miniratna 1 and Miniratna 1 (including other CPSEs).
- The PSUs will have to submit their nomination in the prescribed form provided by the Governance Now PSU Awards 2014 Secretariat. This will be scrutinised for awards by the Jury. Click to download Nomination Form
- The duly filled nomination form should be filled up and sent to Governance Now PSU Awards 2014 Secretariat through email at email@example.com on or before 5 PM, 18th July 2014.
- All nominees are expected to provide complete details and data as per the Nomination Form. However, in case they do not have data or information to share, they can mark the respective fields as NA.
- The nominations process starts from 30th June 2014 and ends at 5 PM on 18th July 2014.
- There is no application fee for nomination of PSUs to the Governance Now PSU Awards 2014.
- While the nomination form has to be sent through email, a hard copy of the same with signature and company stamp has to be sent to the organisers by 22nd July 2014 at the following address:
Governance Now PSU Awards Secretariat
24A Mind Mill Corporate Tower,
Sector 16A, Film City,
Noida—201301 (UP), India
Terms & Conditions
- The nomination has to be sent through email in the form provided by the Governance Now PSU Awards 2014 Secretariat. Click to download Nomination Form
- Governance Now and the PSU Awards 2014 Jury has absolute rights to change / merge / delete / or create a new category of awards.
- Any misrepresentation of information could amount to disqualification of the nomination, without any prior notice.
- The Governance Now PSU Award 2014 Secretariat reserves the right to ask for additional information or clarification from the PSUs.
- The Governance Now PSU Award 2014 Secretariat will also use the Annual Reports of the PSUs and its own research to get further information to verify and evaluate the nominations.
- The Governance Now PSU Award 2014 process is designed to evaluate and compare the PSUs performance that are contextual and bear measurable outcome and impact as explained in the Evaluation Parameters and by submitting the nomination the PSU agrees to accept it.
- While the PSUs are encouraged to provide all information as sought in the Nomination Form, in case the PSU does not have data for any or some of the fields, it may clearly mention NA for the respective sections. However, this may impact their overall score and rating.
- No suggestion would be entertained for change in evaluation parameters and the format by the organisers for the Governance Now PSU Award 2014. However, the same may be evaluated and incorporated by the organisers in the next edition of the Award.
- Once submitted the nominations cannot be withdrawn or modified by the nominating PSU.
- The organisers reserve the right to reproduce the submitted material, wholly or in part, without limitation, in both print and electronic format.
- All or part of any information, photographs, submissions or any details generated for the purpose of Governance Now PSU Award 2014 may be used for further research, analysis and promotional activity.
- The Governance Now PSU Award 2014 Secretariat and Jury reserve the right not to make an award in case the nominations received are not found fit enough in terms of quality and quantity.
- The Governance Now PSU Award 2014 Jury will have the right to nominate PSUs for any special category award that it feels should be in the consideration set.
- The decision of the Governance Now PSU Award 2014 Jury will be final and binding and no appeal will be entertained for change in the Jury decision.
- The authority of deciding on final winners lies with the PSU Award 2014 Jury and the final decision will it based on the report presented by the Governance Now PSU Award 2014 data analysis and evaluation team.
- The PSU Award 2014 Jury will include nominee from Governance Now, its partner companies and eminent personality from government and corporate sector. It will be headed by a Chairperson and no effort to influence any jury member during the process will be entertained. This may amount to disqualification of the candidature of the enterprise from the awards.
How to Nominate
- The questionnaire is in the form of a grid having 26 parameters over a 5-year timeframe. It is in the form of an excel sheet and should be filled up by a person authorised to do so by the organisation/ on behalf of the organisation.
- It is expected that the person filling the nominations will fill up the complete grid.
- The grid should be filled up based on the available facts in the organisation.
- Supporting documents should be attached wherever possible.
- For any queries pertaining to eligibility and filling up the questionnaire kindly contact Shubhendu Parth at firstname.lastname@example.org, +91 9811402655.
- The awards team will acknowledge receipts of entries through email only.