Ghana's Most Respected Company and CEO Awards 2010, which aim at encouraging executives to address corporate governance and leadership issues in their organisations, was launched in Accra on Tuesday.
Instituted by PriceWaterHouseCoopers (PwC), an accounting firm, and Business and Financial Times newspaper, the awards are to serve as the benchmark for assessing business leaders, draw on their experiences and re-shape the business agenda for corporate organizations.
It is also to motivate companies and Chief Executives Officers (CEO), who had performed creditably in areas of good corporate governance practice, leadership style,social responsibility and excellent business culture, among others.
Ghana's Most Respected Company and CEO Awards is an opinion survey conducted among CEOs in Ghana. CEOs will be asked to choose three companies and CEOs they respect and give reasons for their choice.
An independent research company, Synovate, will conduct the survey and collate the results.
The first award was held in 2007 with Prince Kofi Amoabeng, Chief Executive of UT Financial Services, emerging as the most Respected CEO with DataBank taking the Company category.
Mr Felix Addo, Country Senior Partner PwC, said the initiative was to get companies to
not only focus on profit but to be alive to their responsibilities to stakeholders and communities where they operated.
He said commitment to issues of corporate governance and social responsibility was key for companies to maintain excellence in their dealings, especially in the face of increased competition.
"Short-term profit is no longer the means to success but pushing towards good corporate relationship in the long-term is a way to sustain excellence," he said.
Mr Addo said in the competitive business world, it was important businesses paid attention to the environment and the community.
The theme for this year's event is "Achieving Excellence" and the highest nominee for
each category will be presented with the award on May 8, 2010.