Judging criteria - Ernst & Young - Australia

Judging criteria

The selection process is undertaken by an independent panel of judges who are captains of industry, leaders in their professions and academia, and previous Entrepreneur Of The Year winners. Judges may not serve on a judging panel for longer than a period three consecutive years. Ernst & Young is not represented on any judging panel.

Independent judging panels, both in Australia and around the world, assess each Entrepreneur of The Year finalist using the following criteria:

Entrepreneurial spirit

• Setting high standards and demonstrating a desire to be successful
• Taking risks and overcoming significant obstacles
• Demonstrating perseverance and learning from experience

Innovation

• Pioneering new approaches or technologies
• Ability to adapt and develop products/services ahead of the market
• Building a culture of innovation and investing in research and development

Personal integrity/influence

• Personal values and approach to relationships with staff, clients, suppliers and colleagues
• Experience as a role model, mentor and/or advisor to others
• Personal involvement in the wider community

Financial performance

• Strength of financial performance and track record in raising equity and debt finance
• Strategies for managing cash flow and ensuring long term sustainability
• Growth in financial results and reinvestment of profit

Strategic direction

• Developing a vision and setting goals for future growth and expansion
• Building an effective team (eg. staff, directors, advisors) and strategic alliances
• Measuring and benchmarking progress against goals

National/global impact

• Achieving substantial market share
• Extent of expansion into national and international markets
• Plans to enable international growth and increased impact