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.
Ernst & 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:
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 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
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
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
Achieving substantial market share
Extent of expansion into national and international markets
Plans to enable international growth and increased impact