Everyone is continually appreciating everyone else. You don't have to be a manager to acknowledge someone else. Employees are aware of the specific projects or roles their colleagues are involved in and what their strengths are, and are on the lookout to catch people doing well. This culture assumes people are out to do their best and regularly notices them doing it. Sincere and genuine appreciation is forthcoming.
Employees are at their best because their standards of excellence are their own.
Only one person can win this award, so only few will try. It also separates winners from losers. Bottom Line Companies with an attitude of appreciation are proud of the achievements of all employees and departments. They are aware of the strengths of each individual in helping realize the corporate vision. Communicating this vision is their strong point.