Tips and Tricks

This page includes some general definitions and some tips and tricks to help you complete your nominations.


Definitions

Pacific Business

Pacific Business is defined as a New Zealand based business that has a minimum of 50% shareholding held by a Pacific person or persons. 

Pacific Person

For the purposes of the Awards, a Pacific person is one that is of Pacific descent and self identifies as a Pacific person. People of Pacific descent are those who are from any of the islands in Polynesia, Melanesia and Micronesia, except for Aotearoa. 

Innovation

Innovation can be defined as something original and more effective and, as a consequence, new to the organisation, that improves or enhances that organisation in its enterprise.

Impact

We define impact as achieving amplified benefits across social, cultural, environmental and economic indicators.


Supporting information

Environmental Footprint

We're looking for a general statement about the environmental impact of your business such as your energy usage, vehicle use, resource use etc and how your business considers the environment within your operations. 

Definition: "The effect that a person, company, activity, etc. has on the environment, for example the amount of natural resources that they use and the amount of harmful gases that they produce. Every organization should work towards a zero environmental footprint by conserving, restoring, and replacing the natural resources used in its operations. (Cambridge Dictionary)"

Full Time Equivalents (FTE's)

An FTE is the hours worked by one employee on a full-time basis. The concept is used to convert the hours worked by several part-time employees into the hours worked by full-time employees. On an annual basis, an FTE is considered to be 2,080 hours, which is calculated as:

8 hours per day
x 5 work days per week
x 52 weeks per year
= 2,080 hours per year
Click here for a calculation tool from Accounting Tools

 

Financial Information 

Gross revenue

"Raw" sales income; the amount customers actually pay the company when they make their purchases.


Gross profit

Gross profit is the profit your business makes after deducting the costs associated with making and selling your products, or the costs associated with providing your services. Gross profit will appear on your business' income statement, and can be calculated with this formula: Gross profit = Revenue - Cost of Goods Sold.


Net profit percentage (as a percentage of gross revenue)

Your net profit percentage is calculated by dividing your total sales by your net income. 


Return on equity

Return on equity (ROE) is the amount of net income returned as a percentage of shareholders equity. Return on equity measures a business' profitability by revealing how much profit a company generates with the money shareholders have invested.


Return on total assets 

The return on total assets (ROTA) is a ratio that measures a company's earnings before interest and taxes (EBIT) against its total net assets. The ratio is considered to be an indicator of how effectively a company is using its assets to generate earnings before contractual obligations must be paid.

Click here for Xero Definitions

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