British Airways, Cadburys, Land Securities, Rolls-Royce Group and Vodafone are just some of the major blue chip companies that have been short-listed for the 2010 Strategic Value in Corporate Reporting Awards, being presented on April 28th at the Royal Overseas League in Park Place, London.
Presented, for the fourth year in succession, by the Strategic Planning Society (SPS), the awards promote insight, innovation and best practice in strategic thought and action, and are presented to FTSE350 companies for the quality of strategic articulation of their corporate annual reporting.
More than 300 companies were entered into the SPS awards based on corporate reporting for year-ends falling in the period between 1 October 2008 and 30 September 2009. There are nine award categories, for which 28 companies have been shortlisted, including the top award ‘Best overall Strategic Value Added by a FTSE100 Company’ sponsored by corporate communications specialists Radley Yeldar.
Keynote speaker at the awards will be Stephen Haddrill, chief executive of the Financial Reporting Council, who will also co-present the awards alongside SPS chairman, Ian McDonald Wood and representatives of the awards’ sponsors.
“The purpose of these awards is to recognise companies that exhibit the highest standards of strategy disclosure and commentary in their annual reporting,” comments McDonald Wood. “The reporting framework now driven by statutory requirements creates a suitable basis for comparability between companies. So, how a company puts into words its strategic thinking, planning and management offers a way to assess relatively each listed company’s future potential and its worth.
“The recognition of a powerful business strategy is essential for stakeholders to interpret the future success of a company. Winning an SPS award provides an authoritative endorsement to a company. It shows that analysts, investors and stakeholders can rely on this strategic perspective to make effective judgements about the sustainability of the company’s performance over the medium and long term.
“There is an established correlation between the highest standards of strategic value added in corporate reporting and positive share price performance. “A recent PriceWaterhouseCoopers report, entitled ‘What does your reporting say about you?’ stated that few companies cut through historic clutter and short-term financials to give a strategic picture of the business and advised that reporting performance will become less dependent on financial numbers and more about delivering the strategy.
“It concluded that gone are the days when different images of a company and its performance could be conveyed to different audiences. The SPS concurs with these conclusions and our awards will not only demonstrate the value of strategy in business today, but also the important correlation between reporting narrative and share price volatility.”
For further information, please contact Colin Peck in the SPS press office on 01784 482336 or Ian McDonald-Wood, SPS chairman on 01962 793800
Notes to editors:
Founded in 1967, the Strategic Planning Society (SPS) is an international community of 5,000 people – half of whom are outside the UK – who are involved in the field of strategic thinking and strategic management. Its membership includes directors, managers and professional staff across all sectors of business and the public and third-sectors, together with academics and researchers with an interest in the field.
The Society encourages the development of strategy as a distinct professional management discipline, whilst also providing its worldwide membership with a range of benefits that include publications, information resources, professional conferences and other services.
In addition, The SPS undertakes to create a link between academic and practitioner worlds on strategy by keeping strategists up-to-date with developments in strategy-related research and practice.