Many opinions here. On the one hand you get 100% tick on paper that'll bring you that much closer to interviews. On the other it can show that the person doesn't have the initiative to work up the hard way. Employers often admire someone who did the "hard yards" and took time to make contacts in higher up places. It totally depends on who the employers are and what the organisation is.
@Right On time Actually I agree with your answer but as many guys who success in their career no have any honor or award. Anyway you are right in terms of employers who often admire someone with honor or award. So I will work hard in studying MBA to get this kind of thing on my paper. Thanks :-)