The global framework for Best Managed Companies
Best Managed Companies is a programme that aims to challenge and recognise the overall strength of successful private companies, while coaching and recognising their leadership teams.
The programme was established in Canada in 1993 where it has been run successfully ever since, and has become the country’s leading business awards programme. Launched in Belgium in 2017, the programme is active in 46 countries and counting.
What constitutes a Best Managed Company?
Deloitte has found that four leading practices are adopted by Best Managed Companies, setting them apart from the average and ensuring that they sustain exceptional performance.
An independent jury of academics and entrepreneurs evaluates applicants against the following pillars:
Strategy
Alignment & implementation
Best Managed Companies apply a formal methodology for strategy development, execute strategy through strong governance, implement programme management and metrics to measure progress, and clearly and consistently communicate the strategy internally and externally.
Capabilities
Assets & innovation
Best Managed Companies seek to think differently relative to their competitors and focus on embracing innovation and efficiency, develop skills through partnerships, and focus on attracting and retaining the right people internally.
Commitment
Talent engagement & leadership
Best Managed Companies focus on building a ‘one-team’ culture, promote desired behaviour through an effective performance management process and holistic compensation package, and address succession planning by investing in the NextGen.
Financial
Business insights & governance
Best Managed Companies grow and maintain strong P&L and balance sheets, apply key customised metrics, install a mature reporting system to drive business decisions, and build and sustain strong relationships with financial stakeholders.