The World Business Award for New Product Innovation recognizes innovative products and services recently launched to market offering a point of difference from their competitors. Products entered in this category must have been launched after 1st January 2022 to be eligible.
Products can be tangible or intangible and can include but are not limited to:
- Manufactured Goods
- Cloud-based Services
- Platforms & Systems.
Entry is open to all domestic and international products available in the marketplace.
Products must be commercially available and comply with all applicable standards and regulatory requirements prior to entry. Prototypes or products still undergoing trials are ineligible to enter.
Entries are assessed utilizing a robust and dynamic framework to ensure that the assessment process is pertinent and objective. The World Business Awards Framework (WBA Framework) is utilized as a structured model of assessment that enables the participating organizations to be benchmarked against world class performance standards. The Framework consists of specialized 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 organizations.
The World Business Awards are an integrated, hierarchical leadership program conducted on a national and international level. Eligible organizations 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 organizations 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 organizations 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.
Organizations that participate are provided with the unique opportunity to benchmark themselves against the top performers globally. The recipients are acknowledged for their achievements and recognized as the elite of their industry earning a place amongst a distinguished group by having their products, projects, initiatives, contributions and achievements recognized 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.