H&A that are the most common that apply to CF mbrs:
National Awards by general category (ultimately approved by the Governor-General):
1. Valour (there are three different stars or medals and a CF committee, with reps from Rideau Hall, approve these)
2. Bravery (there is a National Bravery Committee, of which, only one CF rep sits on it), three stars or medals.
3. Meritorous Service Decorations, MSDs, (includes the Meritorious Service Cross and the Meritorious Service Medal, same approval process as for Valour in terms of the committee with Rideau Hall reps on it)
-the CDS has directed that more junior ranks (Capt to Pte) be nominated for MSDs;
-this is improving; and
-this is not tied to rank or position, I've seen Cpls given the MSC.
In between National and Departmental Awards:
1. Mention-in-Dispatches (MID): can be given for valour, bravery, or distinguished service, but is only typically given in times of war or conflict. It consists of an oak leaf that is placed on the ribbon of the tour medal, such as the GCS.
Departmental Awards:
1. CDS Commendation (final approval rests with the CDS)
2. Command Commendation (over in Afg, this is CEFCOM for most). Final approval rests with the Commander of the Command.
These Honours and Awards are not given out lightly, contrary to opinions stated on this site. Due consideration is given at all levels, from the nominator, right up to the final committee (at whatever level it may be). National level awards go through at least 3 boards, with most going through 4 (not including the Commander's review at various levels and the CDS' review). Obviously, the lower the level of award, the less committees it will go through. Have a read of some of the criteria for these H&A, such as exceeded expectations of rank, experience, or training. Showed tremendous courage, valour, etc.
My personal and informed opinion:
All who receive, let alone are nominated for, an award have done something to merit it. To belittle someone receiving award belittles the award itself. In a tour, all personnel contribute something and should that person have not done that extraordinary task, then someone else would have suffered, future Rotos suffered or not had it so "nice", or someone could have been killed.