John Spence, CEO And Chairman, Karma Royal Group Announced As Member Of Ernst & Young World Entrepreneur Of The Year Judging Panel

John Spence, CEO and Chairman of Karma Royal Group has been appointed to the judging panel for the 2013 Ernst & Young World Entrepreneur of the Year Awards held 5–9 June this year in Monte Carlo, Monaco.

johnspenceonlineErnst & Young Entrepreneur of the Year is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity and recognizes the contribution of people who inspire others through vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur of the Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in over 50 countries. Each year, the overall winners from each country gather in Monte Carlo for the annual Ernst & Young World Entrepreneur Of The Year Award.

John’s experience as the 2010 Ernst & Young Entrepreneur of the Year Australia and then judge for Entrepreneur Of The Year Australia, coupled with his knowledge of the entrepreneurial market and sector trends around the globe, is exceptional and lays an excellent foundation to evaluate each of the candidates. John is only the fourth judge ever to be selected to the international judging panel from Australia, following the esteemed Founder and Executive Chairman of Competitive Foods Australia Ltd, Jack Cowin and has earned a position among an elite group of captains of industry, leaders in their professions and academia, and previous Entrepreneur Of The Year winners.

“It is a tremendous honour to be selected to sit alongside some incredible legends of business as a judge on the panel for the 2013 Ernst & Young World Entrepreneur of the Year Awards.” said John Spence. “Past judges have been scions of the business community, such as Steve Case of America Online, among others, so it is not only gratifying to me personally, but also great recognition for Karma Royal Group.”   

Independent judging panels, both in Australia and around the world, assess each Entrepreneur of The Year finalist using the following criteria, before finalists can be selected for the World Entrepreneur of the Year in Monaco:

Entrepreneurial spirit

Setting high standards and demonstrating a desire to be successful

Taking risks and overcoming significant obstacles

Demonstrating perseverance and learning from experience


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


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