Frequently asked questions
Canada’s Best Managed Companies
- The award level names have changed for 2017. Which level should I be applying to?
- What is the difference between a Best Managed new winner, Best Managed winner, Gold Standard winner and a Platinum Club member?
- Can a company win a Canada's Best Managed Companies award more than once?
- How does a company apply to become one of Canada's Best Managed Companies?
- Is there a cost to apply to the Canada's Best Managed Companies program?
- When is the deadline to apply?
- What happens after I submit my application?
- Can I review my company's application after it has been submitted?
- What if I need to make changes to my Phase II application form after I have submitted it online?
- Can I save my information and come back to finish the application at a later date?
- How do I calculate my Return on Equity?
- How long is 3000 characters?
- My responses are longer than 3000 characters – what should I do?
- How do I upload a supporting document?
- Can you provide any further hints or tips on the best way to complete the Phase II application?
- How do I reset my password?
- What else do I need my username and password for?
- What does it mean when the system tells me my account has been locked out?
- Who will have access to my financial information?
- How do I update my company's profile?
- One of our Canada's Best Managed Companies contacts has left our company; how do I remove them from our application?
Eligibility and selection criteria
- How do companies qualify and what is the eligibility criteria?
- Can I nominate another company besides my own?
- What decision criteria do you use to determine the Canada's Best Managed Companies?
- How much does my revenue and revenue growth factor into the judges' decision?
- How do you decide which companies move to Phase II of the application process?
- How much media coverage can I expect to receive?
- What makes this award program different than the others out there?
A: We've changed the award category names to better reflect our winners among the various program levels. Updated naming is as follows:
50 Best = Best Managed new winner (new applicant; year one)
Requalified winner = Best Managed winner (years 2 & 3)
Gold Standard winner = Gold Standard winner (unchanged) (year 4)
Gold Standard Requalified winner = Gold Standard winner (years 5 & 6)
Platinum Club member = Platinum Club member (unchanged) (years 7+)
The online application system will recognize your company profile and progress to the next level per the above.
A: A successful first-time applicant becomes one of the Best Managed new winners. First time applicants must complete a two-phased application form – The first part determining eligibility; the second part working with their coaches to answer specific questions regarding their management practices.
The following year, the winner has the opportunity to 'requalify' and retain their status as a Best Managed winner for two years, along with all benefits of the award. This is a simplified version of the original application form used to verify the candidates' Best Managed status.
Upon entering its fourth year of the program, a company must successfully complete the original application questions (Phase I and II) once again to be awarded the Gold Standard designation. Companies must demonstrate their commitment to the program throughout their responses.
Similar to the process in years 2 & 3, companies are invited to complete a simplified application to retain its Gold Standard status for an additional two years (5 & 6).
To achieve Platinum Club membership, companies must have successfully retained their Best Managed status for six years, continually representing the Best Managed standard of excellence. The application process is once again two-phased; successful completion grants winners the elite Platinum Club designation. Following admission to the Platinum Club, companies must reapply using the simplified application form year after year to retain its designation and all associated program benefits.
A: Absolutely. Per the above, successful applicants progress through the various award levels of the program each year. Companies must apply annually to retain their status, subject to review of management practices.
A: Submit an online Phase I application to start the Canada's Best Managed Companies process.
A: There is no fee to apply to the program!
A: Phase I (new applicants – year 1, Gold Standard – year 4, Platinum – year 7): Friday, September 30, 2016, Phase II & all other award levels: Friday, October 28, 2016
A: Once you submit your application an automatically generated email will be sent to your inbox to confirm that we have received your application. Once you have received confirmation of your successful application, you will be able to sign into the website with your username and password to view your application.
If you are applying for years 1, 4, or 7, your Phase I submission will be reviewed and verified for eligibility by the teams at Deloitte and CIBC before you are able to access the Phase II form. You'll receive an email notification should your Phase I be successful; advancing your application to Phase II.
Your company's Deloitte and CIBC coaches will be listed along the left sidebar of the website when you log into your Phase7 II application.
A: All contacts listed on the Phase I application will have the ability to log in with their email address and password to review their Phase I and Phase II application. We also encourage you to print a copy of the application form for your records before you submit. There are printer icons on every page of the application that will allow you to print your application form in its entirety.
A: We ask that you do not submit your Phase II application until it is complete and ready for scoring. If you need to edit your application after submitting it online, please contact your coach who will work with the National Admin team to add to your application and submit on your behalf.
A: Yes, by clicking on any of the tabs at the top of the page, the "<<" and ">>" buttons or the save button on any page, your information will be saved. You can then proceed to close your browser. When you are ready to complete the application form, return to www.bestmanagedcompanies.ca and login with your username and password.
A: The system will automatically calculate your Return on Equity (ROE) when you click on the "Press to Calculate" button. If you change the number provided in the financial table, you will need to click on the "Press to Calculate" button again to re-calculate your ROE.
A: The space allotted for 3000 characters will allow 3000 letters, spaces or symbols to be typed. If you are unsure about the number of characters you have typed, copy and paste your responses into Microsoft Word, select the 'Review' tab, and click 'Word Count'.
A: Applicants are evaluated based on their ability to communicate their responses clearly and succinctly. While there may be an opportunity to share additional information with your coaches during the interview, please note supplementary materials/hard copy applications will not be accepted.
A: To upload a document into your application click "Browse" and you will be directed to your computer's data source. You may then select the appropriate document to be uploaded to your application. Once the document is listed next to the browse button in the application form, press "Upload".
A: We recommend completing your responses in a Word document prior to entering the content into the online registration form; then copy and paste it into the form once it has been finalized. You'll want to include your company's management team throughout the process to ensure the responses best capture your organization's strategy, vision and accomplishments.
A: To reset or retrieve your password, visit www.bestmanagedcompanies.ca click "Forgot your password?" at the top right hand corner of the page, enter your email address in the text box and click "Submit". A new temporary password will be sent to your email address. Use your email address and this new password to log in to www.bestmanagedcompanies.ca. You will be prompted to change your password the first time you log in.
A: Once the Phase I application has been submitted, you will need your username (email address) and password to see all Phase I information. If you are advanced to Phase II, you will be able to use your username and password to access your coach's contact information and the Phase II application. If you are a winner, you may use your username and password to retrieve information regarding exclusive events such as the gala and symposium, to download the Best Managed logos and logo usage guidelines and other promotional documents, etc.
A: If you try to log in to your account more than 5 times unsuccessfully, for security purposes the system will lock you out for 30 minutes. After the 30 minutes has expired you can try again to log in. If you have forgotten your password, you can reset it by clicking on the "Forgot your password" link. A new password will be emailed to you immediately. Note: even once your password has been reset, you will need to wait for 30 minutes before attempting to log in. If you require immediate access, please contact the national administrator at email@example.com or 1-866-551-3455
A: Privacy and confidentiality
A: Deloitte, CIBC and the judging panel, comprised of program sponsors, will review the financial information put forward. The judging panel is required to sign a Confidentiality Agreement.
A: You will be able to update your contact information and your company's profile at any time by signing in with your username and password and accessing the "My profile" and "My company's profile" sections.
A: Please contact the national administrator at firstname.lastname@example.org.
Eligibility and selection criteria
A: View the eligibility criteria at www.bestmanagedcompanies.ca.
A: Absolutely. Email us at email@example.com.
A: We examine four categories of a company's structure: strategy, capability, commitment and return on investment.
A: Financial strength is certainly important when determining a company's stability however, Best Managed is an all-encompassing program which focuses on a number of areas to measure management strength. Regional economic conditions and industry trends are considered while evaluating the financial component of your application.
A: A panel of Deloitte and CIBC leaders review the Phase I applications for eligibility and determine those that move forward.
A: All Best Managed companies are included in national media coverage announcing the winners annually. Many of our winners are approached for additional media opportunities specific to their industry and/or region. Best Managed companies may also be featured in editorial coverage by our media sponsor throughout the year.
A: The Canada's Best Managed Companies award recognizes your entire company. It's uniquely Canadian, and it measures more than strong financial performance. The Best Managed program has a growing international presence, with similar awards in Ireland, Mexico and the Netherlands.