|NWU declared "Outstanding Respondent" by BSP|
The Bangko Sentral ng Pilipinas (BSP) proclaimed Northwestern University as this year's Business Expectations Survey Outstanding Respondent for large-sized firms in Region I for providing exemplary support to the BSP's statistical undertakings and advocacies. The awarding was held during the 2010 Awards Ceremony and Appreciation Lunch for BSP Stakeholders on July 13, 2010 at the BSP Regional Office, San Fernando City, La Union.
The Business Expectations Survey (BES) is a quarterly survey of leading firms drawn from the Securities and Exchange Commission’s Top 7000 Corporations. Results of the BES provide advance indication of the direction of the change in the overall business activity in the economy and in the various measures of activity at the companies’ own operations as well as in selected economic indicators. The survey is divided into two categories, the large-sized and the small and medium-sized firms. NWU with the product line of education is tagged as a large-sized firm having 500 employees.
The criteria for outstanding respondent cover: the organization’s track record of cooperation (40 points); timeliness of submission report (20 points); completeness (20 points); consistency (20 points); and bonus in advance submission (5 points). NWU bested 50 other large-sized firms in Region I. Their scores were treated with the utmost confidentiality by the BSP.
Prof. Divina Quezada, Vice President for Finance, said that when BSP presented the outstanding respondent award to the university "it was a dream come true for the whole community of Northwestern." She recalled that after she left the 2007 Awards Ceremony and Appreciation Lunch for BSP Stakeholders, three years ago, she aspired for the award and worked hard to bring it home to NWU one day. The awarding ceremony was attended by high-ranking officials of BSP and respondents from Region I.