Assessment and reward programmes are important concepts that can help an entrepreneur drive performance in the business.
Such programmes provide a platform to share with peers about the innovations that have enabled or led the way to greater success in business. There are three assessment and reward programmes for the small and medium enterprises in Kenya. These are the CIO 100 survey, SME of the Year Award (SMOYA), and the Top 100 mid-sized companies survey.
The CIO 100 survey enables SMEs to nominate and share with industry the various technology innovations that have enabled them to enhance operations. The CIO 100 award identifies and recognises SMEs that have taken risks on emerging technology or deployed the tried-and-true in a new way, the chief executive officer of CIO East Africa Harry Hare says.
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“This could be a business that has used technology to build better processes, foster closer collaboration, get more from existing customers, pursue new markets, save money or just to make more revenues,” he said. To be selected for a CIO 100 Award, a business has to demonstrate excellence in technology innovation and how technology has helped to enhance business value delivery.
The SME of the Year Award (SMOYA) is a concept of the Kenya Institute of Management (KIM). According to KIM, the SMOYA assessment and reward program helps SMEs to improve performance and to generate strong business results. “We identify and recognize role-model organisations, share best management practices, and help organizations achieve best-in-class performance levels,” KIM says.
The Top 100 mid-sized companies survey is an initiative of KPMG Kenya and Nation Media Group. The survey seeks to identify the fastest growing medium sized companies in order to showcase business excellence and highlight some of the most successful entrepreneurship stories. “We strongly believe that there is a need to celebrate the entrepreneurs who have contributed to wealth and job creation in this country. Our intention, therefore, is that new role models and national heroes will emerge from the survey,” KPMG says.
Do you feel that you are on the cusp of winning such an award, but require further knowledge and training? Try these online courses
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