Selection


judging process


The award-winning company is selected through screening of submitted documents, additional questions and interviews, in-depth screening through the judging committee, and final screening process discussed with Professor Michael E. Porter.
The judging committee consists of representatives of organizational and sponsoring organizations, economic organizations, and experts related to CSV and ESG who can contribute to the spread of CSV and ESG.

Review details : evaluate accomplishment report based on CSV/ESG Porter Prize evaluation Model
Review materials : Expert review of media analysis, public documents, supporting data, etc

Screening ProcessBased on the evaluation model developed in accordance with the screening criteria for the CSV/ESG Porter Prize, reports and submitted evidence are reviewed.
The first step is document review and the second is interview. That will be conducted through the judging committee, In addition, committee review the companies nominated for awards through media analysis.

Review details : Additional Q&A for in-depth examination
Review materials : Written or interviewed (only if necessary)

InterviewAs a result of the document review, you can take questions and interviews if necessary.

Review details : Final screening and confirmation of award-nominated companies with Professor Michael E. Porter
Review materials : Subsequent notification to the company (three weeks prior to the award ceremony)

the final examinationThe final screening will be conducted with Professor Michael E. Porter for evaluation of candidate companies.





Examination criteria


PPorter Prize selects winners based on the following criteria.
Please check the announcement for details such as submission documents by sector.



[CSV] Process sector

In promoting CSV projects, we award outstanding companies and institutions that have authenticity systems and approach them as processes, not one-time projects.
The criteria for screening are as follows.


Authenticity (Plan-Do-See) Is the CSV goals and evaluation criteria quantitatively measured and implemented?
-Does the budget plan include CSV goals and CSV evaluation criteria?
-Are CSV evaluation details reflected in business progress reports (quarterly, semi-annual)?
-Does the year-end evaluation report include the achievement of CSV goals?
Objectivity (External Evaluation) Is the CSV outcome objectively and systematically evaluated by society?
- If the company's or institution's CSV performance is verified externally, who are the external evaluators or organizations?
-Are the evaluation methods and results disclosed to the public?
-Is a feedback mechanism based on evaluation results operational, and is it incorporated into future management?
Systematic Approach -Is CSV explicitly stated in the vision and management strategy?
-Has the Chairman/CEO emphasized and mentioned CSV as an important management philosophy internally and externally?
-If there is a dedicated department for CSV, what is the highest rank of its staff?
-How many hours of CSV-related training were conducted per employee over the past year?


[CSV] Project sector

The CSV project will be awarded to companies and institutions that are excellent in effectiveness, creativie innovation, Transferability, partnership, performance management excellence, and inclusiveness.
The criteria for screening are as follows.


Effectiveness - Has the project expressed internally and externally that the goal is to solve social problems in the community where the workplace is located
- If the performance of the project is quantitatively measurable, is it actually evaluated that way
- What is the total amount of social value created by the project
- Number of project beneficiaries (job creation, start-up support, environmental impact reduction, support for the underprivileged, etc.)
Creative Innovation - Have you applied an unprecedented method during the planning phase (product/service, value chain, cluster)
- Have you leveraged the core resources and capabilities of your company
- Does it offer different values and benefits than competitors do
Transferability - Does the CSV project contribute to solving representative social problems (jobs, low birth rate, aging environment, etc.) in the community where the workplace is located
- Is there a case where this approach has been applied to other institutions and companies
- Are there any cases where this approach has been applied to other parts of the country
Partnership - Is it a project jointly carried out by two or more companies/institutions that has a win-win effect? (Overview of participants, roles, etc.)
- Has the core competencies of all companies and institutions participating as partners been successfully combined to achieve the goal of solving social problems (target, achievement rate, etc.)
Performance management excellence - Are the core creation values of the project measured by level, such as customers, value-chain, and local communities, based on a proven framework?
- Do you objectively and regularly evaluate the project's created economy and social value performance (long/short term) and disclose the performance to key stakeholders?
Inclusiveness - Does it embrace the BOP class within the value chain while achieving the company's business goals?
- Does the supplier, distributor, retailer, or consumer of the corporate customer fall under the BOP hierarchy?
CSV Conformity - Are economic and social values jointly created
- Does the project increase the competitiveness of the company
- Is the process of collecting stakeholder input applied
* This item is judged to be Pass or Fail as a basic examination item, so there is no separate allocation score


[ESG] System sector

Awards are given to excellent companies and institutions that have introduced an effective ESG management system and achieved results for the purpose of creating shared value.
The criteria for screening are as follows.


ESG System - (Framework) Is an effective ESG management system being introduced for the purpose of creating shared value
- (Strategy and Performance Management) Introduce effective ESG strategies across the company to create shared value and continuously manage and improve performance
- (Disclosure) Does the disclosure of ESG information related to the creation of shared value be transparent and accurate


[ESG] Excellence sector

The ESG project that apply will be awarded to companies and institutions that excel in each field and industry of ESG.
The criteria for screening are as follows


Environment Excellence -(Strategy) Has an advanced integrated environmental management system been implemented to secure future growth engines?
-(Operation) Are sustainable environmental management activities being actively pursued?
Examples: improving energy efficiency, utilizing renewable energy, managing carbon emissions, promoting a circular economy, and developing eco-friendly technologies.
-(Performance Management) Are the necessary resources being enhanced to achieve goals, and are environmental performance improvements related to shared value creation being continuously advanced?
Social Excellence -(Strategy) Does the business strategy addressing social issues contribute to creating shared value?
-(Operation) Are responsible management practices being carried out to promote shared value creation for society?
Examples: respecting human rights, creating jobs, managing talent, ensuring information security, promoting fair trade and collaborative management, practicing ethical management, ensuring consumer safety, offering sustainable products and services, contributing to local communities, etc.
-(Performance Management) Are social performance outcomes related to shared value creation effectively managed through accurate feedback and clear communication?
Governance Excellence -(Strategy) Is an innovative governance strategy system in place to expand shared value creation?
-(Operation) Are clear guidelines and principles for governance established to ensure sound and ethical management?
Examples: board composition and activities, shareholder-friendly management, governance improvements, etc.
-(Performance Management) Does the governance structure positively influence corporate value and operational performance?
Disclosure Excellence -Are disclosed data and outcomes balanced, reliable, and verified by third parties?
-Does the disclosure report present information clearly and appropriately while maintaining good accessibility?
Supply Chain Management -Are potential risk factors in ESG domains within the supply chain being assessed and addressed?
-Are partner companies being supported to enhance their ESG management capabilities?
Technology Management -Are technological tools such as big data, IoT, AI, and other 4th industrial revolution technologies being effectively utilized for ESG management?
-Are efforts being made to successfully disseminate and promote ESG-related technologies?
Labor-Management Cooperation -Is a collaborative and cooperative labor-management relationship being fostered?
-Are labor and management working together to implement all aspects of ESG management?
Organizational Culture (Communication) -Is the culture of proper language usage being respected and promoted?
-Is a system in place to support and expand the culture of proper communication usage?




Criteria and Principles for Awards


[Eligibility for Award Applications]

a. The eligibility to apply for and receive awards is based on corporate entities.
    If multiple entities within a group apply, awards may be granted to several entities within the same group based on evaluation results.


[About Award Categories]

a. The Porter Prize will be awarded to the most outstanding companies or organizations in each category, while the "IPS Challenger" (encouragement award) will be given to runner-up companies or organizations in each category.
b. If there are no applicants in a specific category, the category will remain vacant, and awards may be given to runner-up companies or organizations based on evaluation results.


[Hall of Fame]

a. A company that has won the Porter Prize a total of three times, regardless of the categories or sequence of wins, will be inducted into the Hall of Fame.
    Consecutive wins are not required, and companies may continue to apply even after being inducted into the Hall of Fame.


IPS Priciple

The Institute for Industrial Policy, as Porter Prize's secretariat, promises to comply with the following.

Fairness

The Korea Institute for Industrial Policy will establish a screening committee comprising representatives from applicant organizations, sponsoring organizations, economic bodies, and CSV-related experts. The committee will evaluate submissions based on the published screening criteria and select winners through a rigorous and fair process.

Objectivity

The Korea Institute for Industrial Policy, as the secretariat of the Porter Prize, maintains an objective stance and does not favor or discriminate against any specific company or organization based on conflicts of interest when selecting award recipients.

Transparency

The Korea Institute for Industrial Policy ensures that all information required for award selection is obtained through legitimate means and reviewed based on predetermined criteria prior to the application period. The institute does not manipulate or withhold information for the benefit of any specific company or organization. The selection of award recipients is conducted accurately and transparently, in accordance with relevant regulations and generally accepted principles, and is based on factual evidence.

Confidentiality

Information provided during the application process will be used solely for evaluation purposes. Under no circumstances will the names or information of applicant companies or organizations be disclosed to third parties without prior consent from the respective company or organization.

Prohibition of Improper Benefits

The Korea Institute for Industrial Policy ensures that no improper actions are taken with stakeholders during the selection of award recipients. The institute will neither make nor accept improper requests related to the awards. Furthermore, no form of monetary transactions, entertainment, gifts, or other benefits will be offered or accepted, and no financial dealings will occur with stakeholders that could influence the award outcomes.



We promise to abide by the above five principles. However, after the decision of the award-winning company and institution, the promotion of the award-winning results should be carried out through the Dong-A Ilbo, an exclusive media partner, and any advertising and promotional expenses that may occur are optional for the award-winning company and institution and are not mandatory.






FAQ

Here are frequently asked questions about applying, judging, and winning the Porter Prize, along with their answers.

In the case of the private sector, applicants can be divided into large companies, mid-sized companies, and small and medium-sized companies according to their size. Depending on the sorts of the corporation, applicants can be divided into the public sector, the non-profit sector. Regardless of size and sort, applicants can apply for the award.

This award does not incur any additional costs for application and screening. No financial transactions or demands are made in the process of determining the winning company through screening. However, after the final decision of the winning company, only the Dong-A Ilbo and Channel A, which are exclusive media partners, may promote and advertise all.