To win an award for achievement is a great honor, no matter wiiat one’s fields. Awards and prizes often have a monetary value, and certainly convey recognition on the recipient. They are an important symbol of the respect of one’s peers and serve to encourage greater achievement among all members of a particular field.

Perhaps the best known prizes are the Nobel prizes, awarded in diverse fields such as economics, literature, and the promotion of world peace. They are publicized around the world and carry significant prize money to encourage further efforts on the part of the recipient. But less grand prizes are also important. Take, for example, high school science fairs. The excitement of competing for the prizes is encouraging in itself and the candidates often receive support and recognition from their teachers and families. This can stimulate a student’s interest in science and encourage him to pursue a career that he might not have otherwise. The winners of such competitions often receive money in the form of scholarships which can be put toward their future education.

The benefits of winning an award include money, recognition, and respect, all of which can be very encouraging. More importantly, such awards encourage competition and competition leads to progress and development in all fields.