4. How are the nominees for the award selected?

Our evaluation committee, after an elaborated research, selects a company as an award winner acknowledging its “BUSINESS EXCELLENCE” which is based in the following six points:

a. Managerial Leadership: 
Involves the capacity to take adequate decisions to become a better company, the ability and strategy to develop certain stability in the market; thus, becoming a true example for other businesses in your country.

b. Management Systems: 
An effective Management System incorporates at every levels, firm principles, technologies and tools that can help face the challenges of the ever changing local and global markets.

c. Quality in Goods and/or Service:
The constant improvement of all levels, processes and people involved in an organization, in where customer satisfaction predominates, will obtain as results good and services that meet, and even exceed the international quality standards, and 100% customer satisfaction.

d. Managerial Innovation and Creativity: 
Innovation includes changes that facilitate a better adaption of the products or services to the market needs. The product and/or service are presented in an original, innovative way and if it has a sales strategy with clear objectives and if it has a successful response in their market. 

e. Social Responsibility: 
It measures the company’s support to the human and professional development of its employees, and its contribution to its community.

f. Achievements and Recognitions:
The sought results are obtained as a consequence of these components. Among these are: growth in all the areas, achievements of goals, international certifications, recognitions, etc.

SOURCES OF INFORMATION:

The evaluation committee obtains information about the selected companies from the following sources:

• The Business Excellence questionnaires: yearly sent by the Evaluation Committee to businesses chosen to receive the award with the purpose of gaining more information about the company’s management.

• Surveys done to WORLDCOB members.  These members generally recommend their costumers and/or suppliers with which they maintain positive business relationships due to the quality of their goods or services.

• Business magazines in United States of America, Latin America, Europe, Africa and United Arab Emirates. Here, they research about businesses achievements, recognitions, certificates of quality obtained and/or leaders of commercial statistics.

• Official data from all the top businesses acquired because of subscriptions from important mass media all over the world. Furthermore, it will be verified via internet -through web research, news portals, among others.

• Review of magazine publications, newsletters and in some cases data bases provided by entities such as Chambers of Commerce, Industry, Tourism, etc. (according to each case)

All this information is handled by the Evaluation Committee following the evaluations points to finally create a list with the businesses to be presented with “THE BIZZ 2010.”