The Financial Times has launched the tenth annual Business Book of the Year Award, in partnership with management consulting firm McKinsey & Company.

The Business Book of the Year Award highlights books which explore important business and economic issues. They are judged based on compelling and enjoyable insight into modern business issues including management, finance and economics. FT editor Lionel Barber is on the judging panel along with six others.

The winner of the award will receive a prize of £30,000 and shortlisted authors will receive £10,000 each.

This year, an additional award known as the Bracken Bower Prize will be given to a promising young writer with the best proposal for a book about an emerging business theme. The winner will receive £15,000 and their proposal will be published at FT.com.

A shortlist for the Business Book of the Year Award will be announced in New York on 24 September, and the winners of both prizes will be announced at an award dinner in London on 11 November.