Yes, I do believe that awards and prizes given for excellence in various fields serve a useful purpose and in this essay, I will dissert and expound my viewpoints further in this regard. In essence, awards and prizes are means of acknowledging the remarkable achievements of individuals or groups in their respective fields. Recognition of groundbreaking progress made in challenging subjects not only serves to honor the achiever but also to inspire and motivate others involved in such fields but also to interest more people to pursue such work if not for the glory, but for the incentive that is the reward.
Today our civilization benefits from advancement in science and technology, medicine, surgery, and so on; all of which would not have been possible if people did not invest their time and money into research and experiments-that is, the rewards and prizes gave the extra boost in form of prestige and validation as a reason to excel and progress in their fields. For example, the Nobel prizes, which is the epitome of scientific glory are awarded each year to notable people from various disciplines such as Physics, Mathematics, Chemistry, Economics, Peace, and so on, for making a breakthrough in their respective fields; all done through intense scrutiny to select the candidate whose work has had the most influence and impact on society. This form of recognition serves to foster more competition and a race to solve challenges that most people cannot resolve without specialization in the particular fields; the work done by recipients of such awards are esoteric -this points to the immense responsibility of organizations to invest in prizes and grants to forward their research. In addition grants and prize money provide additional funds to researchers and scientists to acquire much-needed machinery, technology, facilities to further progress and strengthen their research.
So I can conclusively summarize regarding the importance of recognition of awards and honors are imperative to the success of human progress. 
Yes, I do believe that  
awards
 and  
prizes
  given
 for excellence in various  
fields
 serve a useful purpose and in this essay, I will  
dissert
 and expound my viewpoints  
further
 in this regard. In essence,  
awards
 and  
prizes
 are means of acknowledging the remarkable achievements of individuals or groups in their respective  
fields
. Recognition of groundbreaking  
progress
 made in challenging subjects not  
only
 serves to honor the achiever  
but
  also
 to inspire and motivate others involved in such  
fields
  but
  also
 to interest more  
people
 to pursue such work if not for the glory,  
but
 for the incentive  
that is
 the reward. 
Today
 our civilization benefits from advancement in science and technology, medicine, surgery, and  
so
 on; all of which would not have been possible if  
people
 did not invest their time and money into research and experiments- 
that is
, the rewards and  
prizes
 gave the extra boost in form of prestige and validation as a reason to excel and  
progress
 in their  
fields
.  
For example
, the Nobel  
prizes
, which is the epitome of scientific glory  
are awarded
 each year to notable  
people
 from various disciplines such as Physics, Mathematics, Chemistry, Economics, Peace, and  
so
 on, for making a breakthrough in their respective  
fields
; all done through intense scrutiny to select the candidate whose work has had the most influence and impact on society. This form of recognition serves to foster more competition and a race to solve challenges that most  
people
 cannot resolve without specialization in the particular  
fields
; the work done by recipients of such  
awards
 are esoteric -this points to the immense responsibility of organizations to invest in  
prizes
 and grants to forward their research. In  
addition
 grants and  
prize
 money provide additional funds to researchers and scientists to acquire much-needed machinery, technology, facilities to  
further
  progress
 and strengthen their research. 
So
 I can  
conclusively
 summarize regarding the importance of recognition of  
awards
 and honors are imperative to the success of human  
progress
.