Absolutely. Like others have said, these awards are probably more valuable to a consultant as it lends a level of credibility and expertise to their portfolios. However, it would be interesting to compare how many leads are generated by an award winning product in a magazine vs. a regular ad placement in same magazine? Does an award carry alot of weight, or is it more about the PR?
Working for a large corporation, I think the awards are less important. If nothing else, it’s also good PR for the corporation, and shows a belief in design. It could also be used as a recruiting tool. “See, come work for a design-award winning company!”