Karren Brady has been awarded a CBE by Prince William at Buckingham Palace.
The West Ham United vice-chairman was given the investiture for services to entrepreneurship and women in business.
The 44-year-old, who co-stars on hit BBC television programme The Apprentice alongside Lord Sugar, was joined by her family for the ceremony - and said she chatted with Prince William about football.
Recognition: Karren Brady holding her CBE with former Fulham striker Paul Peschisolido and her children
Honour: Businesswoman Brady was given her investiture by Prince William at Buckingham Palace this morning. She was recognised for services to entrepreneurship and women in business
Chat: Brady said she spoke to Prince William about football and The Apprentice at the Palace
Brady, who co-stars on BBC show The Apprentice alongside Lord Sugar, broke into football as managing director of Birmingham City at the age of 23.
She has long been renowned for championing the cause of women in business and has repeatedly called on her fellow female professionals to help those trying to make their way in the business world.
After a number of guest appearances on the programme, Ms Brady was installed as one of Lord Sugar's two assistants on The Apprentice.
A year later she she was appointed vice-chairman of West Ham United by new Joint-Chairmen David Sullivan and David Gold.
Brady revealed she did not tell anyone in her family she was receiving the honour and they only found out when her son read about the award in the newspapers.
She said: 'It has been difficult over the 20 years, things are getting better. But I think if women like me don't campaign for other women who's going to do it, so I take it seriously.
'I think it's important that young women have good role models and it's important that if you put yourself forward as a role model you take that job seriously.'
Brady said that she chatted with Prince William, a keen Aston Villa supporter, about football.
'He's a huge fan of The Apprentice and he asked me when that was coming back. I was thrilled to receive it from him,' she added.
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