Tips and Tricks
This page includes some general definitions and some tips and tricks to help you complete your nominations.
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.
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)
8 hours per day
x 5 work days per week
x 52 weeks per year
= 2,080 hours per year
"Raw" sales income; the amount customers actually pay the company when they make their purchases.
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.
Need extra help?
If you require help with your nomination, you can contact us at any time. CONTACT US