At the beginning of 2005 some new field awards – Awards “Ukrainian National Olimp”, “Ukrainian Financial Olimp”, “Ukrainian Construction Olimp” – were instituted due to public professional associations’ initiative.
Their main distinctive feature is high-tailored professional direction. The organizers chose two the most dynamically developing fields of Ukrainian economics – financial and construction ones – and due to assistance of state bodies and vocational associations, they began selecting the best enterprises.
Early in 2007 the Programmes of “Ukrainian Trade Olimp”, “Ukrainian Food Olimp”, “Ukrainian Transport Olimp”, “Ukrainian Juridical Olimp” were established by “Ukrainian Awards Secretariat”. These Programmes’ objective is not only awarding the best field companies and specialists, information assistance and highlighting of the prominent achievements of local business in mass-media at the national state level, but also different market’s segments’ analyzing on the basis of marketing researches, as well as further customers’, Ukrainian and foreign partners’ and public’s information orientation.
On the 15th of December 2007 the Ceremony of Awarding the Laureates for “Ukrainian Trade Olimp”, “Ukrainian Food Olimp”, “Ukrainian Transport Olimp”, “Ukrainain Juridical Olimp” Awards, was held. Such famous people and companies as Vera Ulyanchenko, the chief of Kiev region state administration, Airline company “Aerosvit”, chain-restaurant TM “Pizza Celentano”, LLC “Actiontour” and many others were among the awarded.
System of selection for the title of the Vocational Award Laureate was established in such a way, that it could be easy to find the companies, which succeeded in distinguishing themselves in their professional field, which are respected by the “colleagues” and demonstrate positive development dynamics. However, quantitative indices (assets’ volume, branches and employees’ number, etc.) were not decisive. The analysts of Ukrainian Awards Secretariat estimates the companies due to the qualitative indices, mostly taking into consideration different balance indices’ ratios, analysis of market company’s activity (estimation objects: clients’ list, goods’ line, quality of servicing) and its business reputation.
Selection of the companies, which deserve for awarding, is conducted in the following way. First, the Secretariat applies to municipal and region administrations, as well as vocational associations, asking to provide with the lists of the best companies and enterprises. Then, the participants are given the list of the documents which are to be filled in – questionnaires, licenses’ copies, balances over two accounting periods, financial results report etc.
Information source of conducting the estimation of companies-candidates’ activity is annual and quarter accounting reports. The main methods of financial state analyzing, used during estimation of the company’s activity, are horizontal, vertical and coefficient. Horizontal analysis defines absolute and relative changes of the values of different balance’s articles over the certain period. Vertical analysis’s aim is to calculate the specific weight of certain articles in the balance’s Total section, i.e. determination of assets and liabilities structure for the certain date. Coefficient analysis means researching of the levels and dynamics of relative indices of financial state, which is calculated as ratios of the balance articles’ values or other absolute indices, obtained on the ground of accounting or bookkeeping. At analyzing of financial coefficients, their values are compared to the basic values, as well as their dynamics is researched over the accountant period and over the range of adjacent accountant periods.
On conducting such estimation, the Secretariat composes an analytical conclusion on every candidate-company nominated for getting the award. It contains a nomination, which the company is proposed for, and it also contains the grounds composed on the basis of analysts’ conclusions. Such conclusions’ pack is handed over to the Expert Council, which either confirms, or rejects proposed candidates. The Expert Council consists of professionals well-known in the country’s business circles, and who know financial, construction, trade, food markets perfectly, but who don’t take direct part in business activity. They are mainly prominent scientists and chiefs of professional associations, such as Association of International Forwarders of Ukraine, Ukrainian Car Manufacturers Association, Franchising Association, Whole Ukrainian Leasing Association, Ukrainian Furniture-Makers Association, Ukrainian Lawyers Union, Ukrainian Union of Dairy Companies and many others. During the year, up to finalizing the results on the award, the Expert Council’s structure is enlarged with new members.
Only on passing two selection stages (analytical and expert ones) the final Award’s Laureates’ list is formed.