The Bombay Management Association, or BMA, one of the oldest institutes of its kind, will host the 36th BMA Awards ceremony on February 16, to felicitate eminent business leaders for their contributions to the growth of professional management and for popularising best governance practices.
The chief guest for the ceremony, to be held at the YB Chavan Centre at Nariman Point, is Maharashtra chief minister Devendra Fadnavis. The event is expected to witness wide attendance from a host of dignitaries from the political, business and social spheres.
There are five categories for the awards - Management Man of the Year, Woman Achiever of t he Year, Entrepreneur of t he Year, Entrepreneur of the Decade, and Lifetime Achievement Award.
Some of the past winners include Reliance Industries chair man Mukesh Ambani and ADAG chair man Anil Ambani ( Entrepreneurs of the Decade, 2002) and Tata Sons chairman emeritus Ratan Tata (Entrepreneur of the Decade, 2006).
This year, Ratan Tata is being honoured with the Lifetime Achievement Award and Uday Kotak, executive vicechairman and MD of the Kotak Mahindra Group, has been chosen for the Entrepreneur of the Decade Award.
Other winners include YC Deveshwar, chair man, ITC ( Mana g ement Man of t he Year), Arundhati Bhattacharya, chairperson, State Bank of India (Management Woman Achiever of the Year), and Kunal Bahl and Rohit Bansal, founders of Snapdeal f or (Entrepreneurs of the Year).
“These awards are not based purely on numbers and financial statements, but also consider the value addition that the company and individuals bring to the society,” said R Ramakrishnan, chairman of the BMA Awards Committee and vice chairman and group CEO of Polycab Wires.
“The ceremony this time will also have a panel discussion on the theme, ‘India 2025 - Challenges and Solutions,’” he added.
The winners are chosen by an internal jury group which then sends its list to an external jury for the final selection.
In the first round, a wide environment scan is done to group companies that have done notable work in the year.
“We ensure that companies that have been chosen for a category in the previous year are not shortlisted for the same segment,” said Ramakrishnan.
Then a dedicated study of the balance sheet, governance and compliance track record and contributions to society, community and environment are also considered.
Then a final list is submitted to an external jury which is chaired by S Hajara, former CMD, Shipping Corporation of India; other members of the jury include Sunil Kaushal, regional CEO- India and South Asia of Standard Chartered Bank, PR Ramesh, chairman of Deloitte I ndia, Shikha Sharma, CEO of Axis Bank, eminent chartered accountant Shailesh Haribhakti, former BMA president MK Chouhan, and veteran management professionals Ram Tarneja and KK Nohria.
“A shortlist of five nominees for each award is forwarded to the external jury who then pick the final list of winners,” said Ramakrishnan.
“We also emphasise that the winners are present on the day of the ceremony to receive the award,” he said.
BMA is a principal association of managers, academicians, professionals and students with over 2,800 members and focuses on training and skill building. It aims to build networks between the industry and other institutions.