BEST COMPANIES -PORTER PRIZE AWARD -BY COMPETITION COMMISSION

Institute for Competitiveness, India is Launching the Porter Prize Named
after Professor Michael E. Porter of Harvard Business School27th
August 2012 12:30 IST
New Delhi,
Delhi, India (Institute for Competitiveness (Business Wire India))
Highlights

-- Coveted award ceremony to
be held on September 28, 2012 in New Delhi

-- Aimed to recognize the
strategic acumen of corporates in India

-- Companies will be awarded the
Porter Prize across various categories

-- Nearly 26 companies have been
shortlisted

-- Eminent jury members from academics, corporate world,
ministries etc.

-- Initiated by Institute for Competitiveness, India


-- Professor Michael E. Porter will share his views at the event


-- Meeting place of more than 200 executives from various industries


Porter Prize is being
organized in honor of the renowned philosopher; thinker, Harvard faculty
member and Father of the modern strategic field, Professor Michael E. Porter.


Professor Michael E. Porter 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, environment, and
corporate social responsibility.
Professor Porter has been identified in a variety of rankings and surveys as the
world's most influential thinker on management and competitiveness. He is the
Bishop William Lawrence University Professor at Harvard University, based at
Harvard Business School. A University Professorship is the highest professional
recognition that can be given to a Harvard faculty member.

The award
would look at recognizing the best of Indian companies whilst assessing them on
a robust framework. The central idea of the Porter Prize is to propel companies
to compete on the basis of value creation, innovation and strategy. This year we
are looking at recognizing organizations operating in India who have shown
exemplary strategic acumen under the categories of distinctive positioning,
tradeoffs, fit, industry architectural shift etc.

Porter Prize is based
on four pillars - capitalizing on industry dynamics, segmenting strategically,
leveraging unique activities and exploiting tradeoffs. There are 16
industry-based classifications
such as finance, banking & insurance, food & beverage, retail &
wholesale etc. under which many renowned companies have applied. Clearly, it is
an opportunity for the companies operating in India to get tested on the basis
of their unique strategy and receive the prestigious Porter Prize award, which
is first of its kind.

The assessment is a three stage process with stage
one related to filing of nominations, The second stage comprise of strategy
audit where more information about their organization pertaining to their
framework, strategy, value chain etc. Around 26 companies had been shortlisted
like HDFC Standard Life, SIDBI,
Airtel, Cinepolis, Mother Diary, Cargill, Apollo Gleneagles Hospitals, ICICI
Lombard, Sealed Air, Airtel
etc. The third stage constitutes the jury process. The members of the Jury would
further evaluate the results and help in deciding the winners.

Porter
Prize would be given under the following categories
--Industrial
Architecture Shift
--Creating Distinctive Value
--Leveraging Unique
Activities
--Exploiting Tradeoffs
--Creating Shared Value
--Value
Based Healthcare

In addition, there would be a winner in each of the
industry-based classifications. 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 and methods to further enhance
it by making them understand their company's attractive and unattractive
features etc.

The award ceremony on September 28, 2012 will have
Sessions on Strategy and Shared value. In these sessions, experts from their
respective field will express their views about strategy, innovation of products
and services, etc. Moreover the shortlisted companies' executives will throw
some light on their company's strategy and processes. Henceforth, Professor
Michael E. Porter will share his thoughts on the award, overall process and
Indian companies. Registrations are open for the people who are interested to
attend the event at http://www.porterprize.in/register/

The Honorary
Chairman, Institute for Competitiveness, Dr. Amit Kapoor said that
"India represents a laboratory of strategies and Porter prize is not just
mindful of but is more than happy to engage and celebrate with. It is
confirmation of an arrival of India's paradigm of strategy."

Our
insights partner Penn Schoen Berland (PSB) a global research based strategic communications advisory will
unveil a poll of financial audiences to understand, 'What creates Financial
Competitiveness'? Speaking on need and importance of such a poll Mr. Ashwani
Singla, MD & CEO PSB said, "PSB helps clients gain the Winning
Knowledge™ that they need to gain a competitive edge and Porter Prize is a
perfect platform. As the Indian economy tries to regain its strength; companies
have their own challenges as they struggle to sustain investor's interest. An
initiative like this will help gain and understand of how to compete in
receiving investor's attention and loyalty."

Many companies have
partnered with the Porter Prize. It is supported by Indian Public
Diplomacy, Ministry of External Affairs and is powered by Aircel. Indian
Institute of Corporate Affairs (IICA), FSG, Titan Industries, are the award
partners for the event, Penn Schoen Berland as the Insights partner, Dow
Chemical International Private Limited as the Benchmarking Report and
Coffee Table Book Partner,
Outlook and Outlook Business are the Content Partner, Canon
as Documentation Partner, The Leela Kempinski as the Hospitality Partner,
Hammurabi & Solomon Consulting as the Legal Partner and The
Viewspaper as the Youth Partner. The Media Partners for the event are
Mint, Governance Now, exchange4media.com, and The Sunday Guardian.


About the Institute for Competitiveness

Institute for
Competitiveness, India is the Indian knot in the global network of the Institute
for Strategy and Competitiveness at Harvard Business School. Institute for
Competitiveness, India is an international initiative centered in India,
dedicated to enlarging and purposeful disseminating of the body of research and
knowledge on competition and strategy, as pioneered over the last 25 years by
Professor Michael Porter of the Institute for Strategy and Competitiveness at
Harvard Business School. Institute for Competitiveness, India conducts and
supports indigenous research, offers academic and executive courses, and provides advisory services to the
Corporate and the Governments. The institute studies competition and its
implications for company strategy; the competitiveness of nations, regions &
cities and thus generate guidelines for businesses and those in governance; and
suggests and provides solutions for socio-economic problems.