What to Say When Accepting an Award?
Award shows are known for not only the performances, celebrity outfits and the glamour, but also the award acceptance speeches. While you may not be attending the Oscars or Grammys any time soon, you may attend an award ceremony at your job, school, or other organization, and be required to give an acceptance speech. A good speech garners respect from the audience, while a bad one may put people to sleep or confuse them.
Extracts from Business Communication for Success 
If you are the award recipient, be aware that the acceptance of an award often provides a moment of influence on the audience that can serve to advance your position or cause. Use of the limelight is an important skill, and much like any speech or presentation, it requires planning and preparation. You don’t want to be caught speechless, and you want to project a professional presence that corresponds to the award or recognition.
If you know you are being considered for an award, first consider what the award recognizes within your professional community. An award is a symbol of approval, recognition, or distinction that honors the recipient in public. As the recipient, it is your role to convey recognition of that honor with your gracious acceptance.
Perhaps you have seen an awards ceremony on television, where a producer, composer, actor, or musician has received public recognition. Sometimes the acceptance unifies the community and serves as an inspiration to others. Other times the recipient stumbles, talks as fast as they can to list all the people who helped them reach their goal (often forgetting several, which can hurt feelings), or they use the spotlight to address an unrelated issue, like a political protest. They may mumble, and their nervousness may be so obvious that it impacts their credibility. Accepting an award is an honor, an opportunity, and a challenge.
The first step in accepting an award is to say thank you. You can connect with the audience with your heartfelt emotional displays and enthusiasm. Raised arms, clasped hands, and a bow are universal symbols of respect and gratitude. Note that rambunctious displays of emotion such as jumping up and down or large, sweeping gestures are better left for the athletic fields. An award ceremony is a formal event, and your professionalism will be on display for all to see.
Next, you should consider giving credit where credit is due, noting its relevance to your field or community. If you name one person, you have to be sure to not leave anyone out, or you run the risk of hurting feelings and perhaps even making professional enemies. If you confine your credit list to a couple of key people, it is wise to extend the credit beyond the individual mentions by saying something like, “There are so many people who made this possible. Thank you all!” You should link your response to the award organization and your field, industry, or business. Don’t apologize or use terms that can be interpreted as negative. The acceptance of an award is a joyous, uplifting affair, and your role is to maintain and perpetuate that perception.
You may also consider linking your award to a motivational anecdote. A brief, personal story about how a teacher or neighbor in your community motivated you to do better than you thought you could and how you hope this can serve to motivate up-and-coming members to strive for their very best, can often stimulate an audience. Don’t exaggerate or stretch the story. The simple facts speak for themselves and the award serves as a powerful visual aid.
Say “thank you again” as you leave the stage, facilitating the transition to the next part of the ceremony while acknowledging the honor. You may need to take note where previous recipients have exited the stage to proceed without error, or simply return to your seat. Your brief comments combined with a graceful entrance and exit will communicate professionalism.
Check List by Toastmasters International 
Accepting an award graciously requires thought and preparation. Saying "Thanks, but I really don’t deserve this" won’t cut it. These tips might help:
Write your acceptance speech as a script and memorize it.
Practice, Practice, Practice. Rehearse with a timer and allow time for the unexpected.
Pause, smile and count to three before saying anything.
Begin by addressing the audience to buy some time and calm your nerves.
Don’t apologize for anything. The audience is rooting for you.
Control filler words (uhms and ahs ).
Concentrate on your message, not the medium.
Keep names to a minimum and pronounce them correctly.
Make your last line expendable in case you are cut off.
Instructions to Prepare an Award Ceremony Speech 
Decide ahead of time who will speak if multiple people are part of the potentially winning entity. Either pick one person or decide how long each person may speak.
Make a list of every person you need to thank, such as your family, partners, mentors and other people. You may not have time to thank everyone, so it’s okay to sum up groups, such as “my family” or your marketing team at your place of employment.
Say concisely what the award means to you. Show genuine thanks and appreciation, but do so in a few words. Example: “Ever since I started medical school, I knew this award was something to strive for.”
Ask someone associated with the award ceremony what the time constraints are for an acceptance speech. If he is unsure of a set time, err on the side of keeping the speech brief, such as a minute or less.
Write out the speech. Do not write out every single word, but instead key remarks and people to thank. Type the speech and print it in a font that’s large and easy to read. Make the speech concise and genuine. Avoid showboating or using the moment as an opportunity to push another agenda or your political views.
Practice your speech multiple times. You may get nervous when presenting the speech, so practicing helps you feel comfortable and not forget your words.
Give the speech at the ceremony, breathing normally and making eye contact with the audience at least every two or three sentences. Speak confidently into the microphone, smile and act thankful, without coming off as cocky.