UnleashWD and NAED Launch Innovation Award

Chicago, Ill. (PRWEB) — In an effort to recognize and encourage innovation in the wholesale distribution industry, UnleashWD and the National Association of Electrical Distributors (NAED) announce the creation of the Unleashing the Innovation Spirit Award.

Electrical distributors who are members of the NAED may submit their entries from now until Feb. 1, 2014 through the website: http://www.unleashwdinnovationaward.com/. There is a $150 fee for each nomination to cover program costs.

“Innovation is the only way for distributors to create a sustainable future,” Dirk Beveridge, Founder of UnleashWD said. “As the only innovation summit for the wholesale distribution industry, it is only natural for UnleashWD to partner with NAED to recognize electrical distributors for their efforts and to promote innovation in the industry as a whole. This award will show that innovation is not reserved for the Apples of the world.”

Three winning organizations will be announced April 26-29 during the NAED National Meeting in San Francisco. Electrical distributors will be recognized from three different categories: revenues under $25 million, between $25.1-$200 million and more than $200 million.

Distributors may work with a supplier or a technology company to produce a submission if it is a collaborative project. UnleashWD defines innovation as “solving problems in a way that the organization finds a new way of creating, delivering or capturing value.”

Submissions may cover any innovation effort with special consideration granted to the following:

  • Creating a culture of innovation
  • Business model design
  • Leadership
  • Integrating the voice of the customers into the project

Judges will review submissions based on how the innovation effort transformed the organization, what new value was created and the results achieved. Since innovation works best in a fail fast environment, organizations are encouraged to submit projects that have provided a learning experience or have yet to reach fruition.

“Corporate and personal innovation are critical to survive and thrive,” said Chris Brown, CEO of Widenbach Brown Co., a NAED member. “The UnleashWD/NAED Innovation Award will drive companies to think about innovation as a crucial component of planning for the future, and the importance of making innovation a part of their corporate culture. Or they may be out of business, but just don’t know it yet.”

The three winning organizations will each earn two free registrations to the 2014 UnleashWD Innovation Summit, and will be recognized in a feature article by tED Magazine.

“This is a great opportunity for NAED, UnleashWD and tED magazine to work together on the Innovation Award,” said Scott Costa, tED magazine publisher. “This award will allow us to honor the distributorships that recognize challenges, discover opportunities, and create new and impactful ways to overcome them today so they can take their success to a whole new level in the future.”

tEd Magazine is the official publication of the NAED. UnleashWD and the NAED are working together to promote innovation within the electrical distribution business.

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