The Sense and Nonsense of Awards (Logique et illogisme des recompenses)

Points de vue, pp. 114-122, 2008

4 Pages Posted: 5 Jan 2009 Last revised: 7 Jan 2009

Date Written: August 1, 2008

Abstract

This paper analyzes the role of awards in accelerating positive social change. Awards are an expression of the fundamental human desire to share, celebrate and recognize. But what is the real impact an award has upon the recipient and upon the organization that grants it? And is the proliferation of awards which we are witnessing these days a healthy phenomenon? Awards can essentially do three things: focus public attention on an individual and the organization he or she leads; provide important economic resources to an individual or organization in pursuit of a mission to the extent that the award is not purely nominal; and, manage a community of stakeholders or funders of an organization. For example, many foundations organize gala dinners for fundraising purposes, where the most generous funders of the organization are recognized. The paper argues that well-designed awards provide relevant symbolic and economic capital to an individual or organization. In the field of philanthropy, awards can play a major role in accelerating the diffusion of social innovations. The paper explores which design features are critical to maximize the positive impact of an award.

Note: Downloadable document is in French.

Keywords: Awards, philanthropy, social entrepreneurship

JEL Classification: L31

Suggested Citation

Martin, Maximilian, The Sense and Nonsense of Awards (Logique et illogisme des recompenses) (August 1, 2008). Points de vue, pp. 114-122, 2008, Available at SSRN: https://ssrn.com/abstract=1322721

Maximilian Martin (Contact Author)

University of St. Gallen ( email )

Tigerbergstrasse 2
St. Gallen, CH-9000
Switzerland

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