Awarded for Excellence in Business First awarded 2002 | Country International Official website stevieawards.com | |
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The Stevie Award Competitions were created in 2002 to recognize accomplishments and contributions of companies and business people worldwide. The 2002 awards were called The American Business Awards; the 2003, The International Business Awards, since then the present title has been used.
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History
Michael P. Gallagher, an American businessman, conceived the Stevie Awards as a way to "restore public confidence and investor trust" after the Enron scandal in 2001. Gallagher left his job in 2001 and founded American Business Awards to administer the Stevies. The first Stevies were awarded in 48 categories in April 2003 and judged by a panel including Rich Karlgaard, the editor of Forbes magazine and Richard Klimoski, Dean of the School of Management at George Mason University.
Application fees and judging
The charge to be considered for a Stevie in 2003 ranged from $200 to $400. As of 2014, entry fees range up to $505. There is an additional fee for attending the awards dinner.
Awards are judged each year by figures in business worldwide who participate in an evaluation process of nominees. Their recommendations for winners are announced at annual awards ceremonies held in New York City and other locations.
According to the organization, awards are given in hundreds of categories, and 30-40% of entrants receive an award.
The Stevie
Stevie is taken from the name Stephen, which is derived from the Greek for "crowned".
The trophy is manufactured by R. S. Owens as a 16-inch tall, hand-cast statuette finished in 24-karat gold, holding a crystal pyramid representing Maslow's hierarchy of needs.
Reception
When launched in 2002, the awards were described by the New York Post as a way to "distinguish the good guys from the scoundrels" during a period heightened scrutiny and distrust of managers and CEOs.