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Research Methodology

The Intersection between 360° Research and Best Practices Awards



Frost & Sullivan’s 360° Research Methodology™ represents the analytical rigor of our research process. It offers a 360° view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often, companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360° Research Methodology™ provides an evaluation platform for benchmarking industry players and for identifying those performing at best-in-class levels.

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360° Research: Seeing Order In The Chaos
360 Research:
Seeing Order In The Chaos

Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices

Our awards team follows a 10-step process (illustrated below) to evaluate award candidates and assess their fit with our best practice criteria. The reputation and integrity of our awards process are based on close adherence to this process.

STEP OBJECTIVE KEY ACTIVITIES OUTPUT
1) Monitor, target, and screen Identify award recipient candidates from around the globe
  • Conduct in-depth industry research
  • Identify emerging sectors
  • Scan multiple geographies 
Pipeline of candidates who potentially meet all best-practice criteria 
2) Perform 360° research Perform comprehensive, 360° research on all candidates in the pipeline 
  • Interview thought leaders and industry practitioners
  • Assess candidates’ fit with best-practice criteria
  • Rank all candidates 
Matrix positioning all candidates’ performance relative to one another  
3) Invite thought leadership in best practices Perform in-depth examination of all candidates 
  • Confirm best-practice criteria
  • Examine eligibility of all candidates
  • Identify any information gaps
Detailed profiles of all ranked candidates 
4) Initiate research director review Conduct an unbiased evaluation of all candidate profiles 
  • Brainstorm ranking options
  • Invite multiple perspectives on candidates’ performance
  • Update candidate profiles  
Final prioritization of all eligible candidates and companion best-practice positioning paper 
5) Assemble panel of industry experts  Present findings to an expert panel of industry thought leaders
  • Share findings
  • Strengthen cases for candidate eligibility
  • Prioritize candidates
Refined list of prioritized award candidates 
6) Conduct global industry review Build consensus on award candidates’ eligibility 
  • Hold global team meeting to review all candidates
  • Pressure-test fit with criteria
  • Confirm inclusion of all eligible candidates
Final list of eligible award candidates, representing success stories worldwide 
7) Perform quality check
Develop official award consideration materials  
  • Perform final performance benchmarking activities
  • Write nominations
  • Perform quality review 
High-quality, accurate, and creative presentation of nominees’ successes 
8) Reconnect with panel of industry experts Finalize the selection of the best-practice award recipient
  • Review analysis with panel
  • Build consensus
  • Select winner
Decision on which company performs best against all best-practice criteria 
9)  Communicate Recognition Inform award recipient of award recognition  
  • Present award to the CEO
  • Inspire the organization for continued success
  • Celebrate the recipient’s performance
Announcement of award and plan for how recipient can use the award to enhance the brand 
10) Take strategic action Share award news with stakeholders and customers 
  • Coordinate media outreach
  • Design a marketing plan
  • Assess award’s role in future strategic planning 
Widespread awareness of recipient’s award status among investors, media personnel, and employees  

 

 

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