The four pillars of a Best Managed Company

Strategy

Most Best Managed companies have a formal methodology for strategy development, ensure the strategy reflects all stakeholders, have the right capabilities and metrics in place to execute their strategy, and clearly and consistently communicate the strategy to all levels of the organization.

Key focus areas:

• Purpose, vision, mission & strategy
• Strategy development
• Strategy execution
• Strategy communication & alignment

Culture and Commitment

Best Managed companies build a strong corporate culture and legacy, actively develop their people and leadership team, provide a holistic compensation system, and address continuity issues within the company.

Key focus areas:

• Corporate culture; including creating inclusive work environments that fosters inclusion and extending support for minority groups
• Brand
• Compensation
• Continuity
  

Capabilities and Innovation

Best Managed companies develop valuable capabilities and resources, are highly execution-oriented, are focused on productivity and innovation, and are thoughtful about hiring the right people to execute their business model and strategy.

Key focus areas:

• Resources & capabilities
• Productivity
• Innovation
• Organization & People; including approach and policies to diversity & inclusion, Anti-Racism, Anti-Black Racism
  

Governance and Financials

Best Managed companies install strong governance structures, use KPIs to manage their progress, maintain a strong balance sheet, and apply the financial discipline required to drive revenue growth, improve operating margin, and increase asset efficiency.

Key focus areas:

• Governance and oversight
• Financial measurement and management
• Financial capability 
• Reporting and monitoring