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Judging Criteria

How effectively did the SIFE team measure and demonstrate that they had created economic opportunity for others by helping them to:

Understand how a market-based economic system operates.	20
Acquire the education and skills training needed to succeed in a dynamic, competitive global economy.	20
Learn how to succeed as an entrepreneur and/or improve an existing business.	20
Develop the personal financial management skills necessary to achieve financial independence.	20
Understand that the long-term success and prosperity of a market economy, businesses and individuals are dependent on ethical business practices.	20
How successfully did the team develop and execute a strategy to ensure the long-term sustainability of their team and educational programmes?	20
Totaal points	120

Explanation of New Judging Criteria

The order of the judging criteria tells the story. SIFE’s primary goal is to create economic opportunities for others through educating them in relation to specific aims. The aims have been carefully selected and organised to benefit SIFE participants around the world.

Criterion 1

The foundation of that education is an understanding of how a market based economy operates.

Once that concept is understood, participants in economic activity fall within one of two basic categories, employees or entrepreneurs.

Criterion 2

Employees must have the skills needed to compete successfully in a global market.

Criterion 3

Entrepreneurs must have the ability to identify a market need and to create a product or service that successfully satisfies that need.

Criterion 4

After the skills of employment or entrepreneurship have been successfully obtained, it becomes increasingly important to understand how to manage money in order to become and to remain financially independent.

Criterion 5

The common moral thread present throughout the process is an understanding of sound business ethics.

Criterion 6

Lastly, a plan must also be in place to ensure the long-term sustainability of programmes, projects or business ventures.

The Judge Orientation video is available to download here