The use of awards to stimulate activities designed to help women in education is considered. Using the American Assembly of Collegiate Schools of Business award as a model, attention is directed to why awards are important, who can give them and to whom, and how to develop an awards program. An award or prize is defined as any form of recognition bestowed upon an individual, organization, or group in order to acknowledge efforts in promoting equity for women. Although consideration is given primarily to awards in the academic community, many of the concepts will be applicable to awards given in other settings, including awards given by community organizations and businesses. Awards that recognize efforts to bring about equity for women in academe can: increase awareness of women's programs and achievements; legitimize activities designed to promote educational equity for women; stimulate others to develop similar equity-promoting activities or programs; identify specific winners and specific award programs as models; and encourage the development of similar award programs in other settings and/or by others in the same fields. Specific types of programs and materials for which awards can be granted, different types of awards, and specific types of organizations and institutions that might offer awards are listed. Considerations in establishing an awards program, including decisions about the nomination and selection procedure, are outlined. A partial list of awards programs is included. (SW)