Judging Process

How does the Judging Process Work?
Independent judging is one of the cornerstones of success for the Blue Chip Business Award program. Essay review is provided through the Entrepreneurship Center at Ball State University. The Entrepreneurship Center received the NASDAQ Center for Entrepreneurial Excellence Award in 2000 and was named on of the top five undergraduate Business Schools for Entrepreneurship in 2004 by U.S. News and World Report.

The judging panel is led by Dr. Larry Cox. Each year the faculty of the Entrepreneurship Center meets to review, analyze and score each entry. As a result, the “best of the best” rise to the top in a tough, candid evaluation process that not only honors the winners, but honors the process as well.

Applicant essays are scored in three categories:

1. Challenge/Opportunity

This score reflects the magnitude of the challenge, and the resulting effect on the business and its bottom line.

Examples of Challenges:

• Natural Disasters
• Death of Owner/Key Management
• Competition            
• Personnel Issues
• Financial Problems
• Lack of Business Plan
• Product/Service Obsolescence

Examples of Opportunities:

• Market Niche
• Unique Product/Service
• Buy-Out
• Progressive Market Plan
• New Product/Usage
• Sound Business Management

2. Solution

This score measures how effectively the company mobilized resources to overcome a challenge or pursue an opportunity.

Businesses are scored on how well they utilize the following:

• Human Resources
• Quality Assurance
• Marketing Strategy
• Community
• Financial
• Technology

3. Performance or Success

This score reflects the relative change in the company’s performance as a result of employing and managing particular resources.

Examples might include:

• Increase Market Share
• Higher Employee Retention Rate
• Maximized Profits
• New Business from new Products/Services