Reason for receiving Global Award for 3 consecutive years
After the lecture, Gautham Gnanajothi, Principal at Frost & Sullivan, a major US consulting company, gave a lecture about TMEIC receiving the Global Award for three consecutive years (Fig. 6) (See related article 4).
Gnanajothi explained how they selected the winner of the Global Award in PV inverters, explaining the methodology and evaluation criteria in detail.
Manufacturers of PV inverters were narrowed down to three finalists from more than one hundred in the global market. Scores of the PV inverter business at the three finalists were calculated based on two evaluation criteria: "Visionary Innovation & Performance" and "Customer Impact." Eventually, the company that obtained the highest score was selected as the winner of the award (Fig. 7).
TMEIC and two competitors against them were selected as the three finalists. While TMEIC scored 9 and 8 points out of 10 in the two evaluation axes, the competitors scored 6 and 6, and 5 and 5 points, respectively.
"As a result, TMEIC easily won the Global Award," Gnanajothi said.
After the lecture, an audience member pointed out that "Two evaluation axes are insufficient for objective evaluation; there should be three axes."
Responding to the question, Gnanajothi said that the evaluation criterion of "Visionary Innovation & Performance" contains five sub-criteria including "Addressing Unmet Needs," "Visionary Scenarios through Mega Trends" and "Financial Performance," and a comprehensive evaluation was undertaken giving consideration to the all sub-evaluation criteria.
He also said that the "Customer Impact" evaluation criterion also contains five sub-evaluation criteria including "Price/Performance Value," "Customer Purchase Experience" and "Brand Equity," and they were evaluated in a comprehensive manner as well (Fig. 8). He emphasized that the evaluation was not done based on the two simple evaluation axes alone.