Award criteria

Eligible family businesses must be 2^nd generation or older, with business in at least two countries, and a turnover of at least USD 200 million. Companies involved in industries such as weapons, hazardous materials or tobacco are not eligible.

The award celebrates family-owned businesses that are leaders in sustainability, with a specific focus on both breadth and depth in strategy, initiatives, impact, implementation and stakeholder engagement.

Award process

Step 1 - Call for nominations and collection of applications 
IMD solicits applications from the nominated family enterprises that fit the award criteria. Families need to sign off on the application before it is considered by the award evaluation committee. Collection of applications runs until en of November.

Step 2 – Selection of finalists 
Based on the award criteria, an evaluation committee, comprised of experts from both organizations, reviews all applications and undertakes research to validate the submissions. 

The evaluation committee is composed of:
- Vanina Farber, IMD Professor holder of the elea chair for Social Innovation
- Honora Ducatillon, Head of Family Office Services, Pictet Wealth Management
- Marie-Laure Schaufelberger, Group Stewardship Officer, Pictet Group
- Marta Widz, IMD Family Business Research Fellow
- Natalia Olynec, IMD Head of Sustainability 
- Victoria Kemanian, IMD Director Business Transformation Initiative

Step 3 – Advanced research on the finalists 
In-depth interviews are conducted with shortlisted finalists.

Step 4 - Jury meeting and vote 
To select the award winner, a panel of independent jury experts will examine different aspects of the sustainability of family businesses. The award jury votes individually and anonymously.

Step 5 - Award Ceremony
Award’s Ceremony and announcement of the winner takes place in Q2.

Step 6 - Prepare the case study on the winning family business 
A case study and articles about the winning family business are published by IMD’s Award Director Professor Sameh Abadir and the award research team. 

Prizes

A trophy crafted by Chopard and complimentary seats on our IMD Family Business Programs are awarded to the winner and finalists. A case study and articles about the winning family business are published by IMD’s Award Director Professor Sameh Abadir and the award research team.

Symbolizing the extension of the totem pole linking heaven and earth, the award trophy is crafted by Chopard, a family-run business and expert in watches and jewellery. It is made from recycled materials in the shape of the leaf of a tree and designed as a further development to the IMD Global Family Business Award trophy.