The University of Vermont is calling for nominations for the first annual Family Business Awards. The awards, which are being organized by the Family Business Initiative at the School of Business Administration, will recognize UVM alumni and Vermont based businesses that have demonstrated a commitment to creating sustainable business through leadership and innovation.
‘Research suggests that 80% of new ventures in the U.S. are launched as family enterprises,’ said Dr. Pramodita Sharma, of the School of Business Administration. ‘UVM’s alumni are doing their fair share in launching and growing such ventures.’
Any privately held business that is owned and/or operated by a graduate of the University of Vermont can be nominated for one of four categories: 1st Gen, Multi-Gen- US Based, Multi-Gen Global, and the Vermont Legacy Achievement Award. The Vermont Legacy Award is also open to all Vermont based businesses that haveendured beyond the third generation or longer.
‘Family businesses face many unique challenges where ownership, management and family over-lap,’ said Dann Van Der Vliet, director of the Family Business Initiative at UVM. ‘While there are many family business awards programs already in existence in the U.S., we would like to draw attention to the many family businesses that have been founded by UVM alumni here in Vermont, in the United States, and across the globe.’
‘We are humbled and proud to have a truly distinctive panel of judges who have different perspectives on family enterprise,’ said Dr. Sharma. ‘We are confident that our winners will inspire us all.’
The distinguished panel of judges are: Greg Bourgea, Managing Partner at Gallagher, Flynn & Co., Scott Carpenter, President of Key Bank, Vermont, Steven Grossman, Former CEO at Southern Containers, JohnHall, COO of Rachael Ray, Robin Tauck, President of Robin Tauck & Partners, and Dr. Pramodita Sharma, Sanders Professor for Family Business at the University of Vermont School of Business Administration (non-voting chair).
Judges will take into consideration success on four dimensions when making their selections: financial success of the company, governance structure in the family and the business, contributions to the community and innovative business practices.
Nominations must be received by May 31, 2012. The awards will be handed out during Homecoming Weekend, October 5-7, 2012.
More information:http://www.uvm.edu/familybusiness/?Page=UVMFamilyBusinessAwards.html