prize, reward, give award to
獎 centers on giving a prize or reward to recognize achievement. The idea of awarding something valuable connects the senses of prize, reward, and the act of bestowing an award.
獎 combines 將 (general, leader) with 犬 (dog), but the exact historical reason for this combination is uncertain. It may have originally depicted a leader rewarding a hunting dog, though this is speculative.
A general (將) gives a prize to a loyal dog (犬) for its service. The dog receives a reward, capturing the idea of awarding a prize.
For ショウ, imagine the general giving a showy award ceremony for the dog: show -> ショウ, and the prize is presented with fanfare.