The Westpac Outstanding Women Award (shortened to WOW Award) recognizes exceptional professional work of women in Papua New Guinea.^[1] Since its inception in 2006,^[2] when it was called the Westpac Women in Business Award,^[3] the Award has recognized the achievements of individual women in multiple categories. Each category awardee then becomes a finalist for the overall WOW Award.^[4] In the face of acknowledged gender inequity in the country,^[5][6][1][7] the WOW Awards call attention to the crucial and highly skilled work done by women across a number of sectors.^[8] The winner of the WOW Award receives a grant to pursue a formal education, professional mentoring, opportunities for professional learning and networking at an Australian Executive Women's Leadership symposium, and a cash prize.^[9] The WOW Awards support the belief that investment in women leads to stronger economic outcomes for a nation as a whole, and strives to provide role models for the girls and women of the country.^[1][4]

The number of categories in which women are recognized has expanded over the years:

Westpac Papua New Guinea, a subsidiary of Westpac Banking Corporation of Australia, is the primary sponsor and organizer of the award.^[1]

Other companies have joined in sponsoring one or more awards over the years.^{[12][13][14][15][16][11][17]} Typically, these companies contribute cash to sponsor a prize for the finalist in each category, which supports those finalists in continuing their work.^[13][14][15]

The WOW Awards extend a call for nominations each year, and filed an average of 70-80 nominations annually.^[1] In 2016, there were over 100 nominations.^[18] From among these nominations, a judging panel composed of representatives from Westpac, high-level sponsors, and the community picks a first round of finalists.^[19][9][17] Judges interview each finalist to assess their: capacity to lead, influence, and inspire others in pursuit of challenging goals; record of operating with integrity and good governance; achievement in appropriate areas, such as school, sports, or professional activities; and personal and professional values.^[17] Ultimately, the panel selects one finalist per category, and from among these nominees select the overall Westpac Outstanding Woman Awardee.