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About Best Managed Companies

The Best Managed Companies awards programme is ran globally by Deloitte and is a symbol of organisational success and achievement.

Launched in Ireland in 2008, the Best Managed Companies programme has recognised superior business performance in Irish and Northern Irish privately owned and managed companies. Entrants to the programme compete for this prestigious designation in a rigorous and independent process that evaluates the calibre of their management abilities and practices. It is the only awards scheme on the island of Ireland that considers a business’ performance from every perspective. 

The winning companies are made up of new applicants who have successfully qualified as a Best Managed for the first time along with re-qualifying companies who have qualified to maintained their Best Managed status year on year. The programme sponsor is Bank of Ireland. The Business Post is the media partner and the Irish Management Institute is the programme's academic partner.

Key Benefits

 A global mark of excellence

Winners increase their market visibility and credibility through exclusive use of the Best Managed Companies designation. This is an important marketing tool for your business, both nationally and internationally. Also, as the award recognises the entire company - not just one individual – internal stakeholders and staff will share in the success.

Coaching your way to success

If your initial application for the programme is successful, your company will receive exclusive and personalised coaching sessions from both Deloitte and Bank of Ireland. Not only is this a chance to fine tune your application before it goes to the judging panel, but it is also an excellent opportunity to review and revaluate your business strategy and help with a future development path for your organisation. Even if you company is not among the final winners, you are guaranteed to benefit from the business expertise and benchmarking gained during the coaching process.

A network like no other

Winning companies become part of the network of Best Managed Companies with access to exclusive year-round events and networking. The annual Symposium is an excellent opportunity for professional development as
well as a chance to meet fellow participants. Moreover should you be a successful finalist, you will attend the exclusive, black-tie gala awards ceremony that is recognised by other business leaders as one of the most important events in the Irish business calendar.

Publicity you can't buy

You will also enjoy excellent public recognition and profile through our
media partner, The Business Post, including a special Best Managed Companies
supplement. Winners also receive extensive coverage in national and local
media, giving them an enhanced ability to attract and retain top talent. 

Frequently Asked Questions

What is the application process?

To be considered for Best Managed Companies, new applicants must go through a two phase application process.

Phase I

Companies are required to complete a Phase I application to determine
eligibility. Companies will be notified shortly thereafter if they have been
shortlisted for Phase II.

Phase II  

Companies shortlisted for Phase II of the application process are asked to
complete a second more detailed submission. Companies must demonstrate how the organisation is meeting and mastering its growth strategy and will be evaluated under a proven framework. Companies will be assigned coaches from Deloitte and programme sponsor Bank of Ireland who will help them formulate their approach to completing the submission. The coaching offers an independent view on the business and allows companies to benchmark their performance.

Who can apply?

Eligibility criteria for entering the programme are as follows:

  • Companies must be Irish or Northern
    Irish, substantially privately owned, managed and controlled (incorporated in
    either the Republic of Ireland or Northern Ireland,
  • Have a turnover in excess of €10million /£8STG million.
  • Be established for at least five years
  • Demonstrate superior performance over the past three years (in relation to their peers

The following companies are ineligible;

  • Public companies
  • Foreign multinational’s and their subsidiaries
  • Credit unions / insurance companies/ banks / co ops
  • Charities, not for profit organisations and their subsidiaries
  • Government - owned/public sector agencies
  • Partnerships

Is this awards programme new in Ireland?

The programme is entering its 13th year in Ireland. This initiative is modelled on Canada’s 50 Best Managed Companies programme, which has been successfully run by Deloitte in Canada since 1993. There are now 21 countries running the Best Managed programme.

Why was Best Managed Companies created?

The programme was created to recognise the overall success of a company, including management strength, ability to innovate, strategic initiatives and financial performance – all of which contribute to a Best Managed company.

What makes this programme unique?

It recognises the achievements of management teams, not just individuals and is the only awards programme in Ireland that recognises overall business performance.

What decision criteria are used to determine a Best
Managed company?

The judging panel will examine companies under the four pillars of 1) Strategy 2) Capability and Innovation 3) Culture & Commitment and 4) Governance and Financial performance.

Are there any similar programmes in Ireland?

No. This is the only award that recognises the overall business performance and sustained growth of Irish/Northern Irish owned and managed companies.

Is there a programme application fee?

There is no cost to participate in the program.

Will my company's financial information become
public?

No. The confidentiality of your financial information is vital to the integrity and
continued success of the programme. Only your coaches that work directly with
you and the judging panel will review sensitive information.

Is my revenue growth sufficient for qualification?

Financial growth is a key attribute, but it is not the sole criteria under which you are judged. We also include measures for strategy, commitment and capability in
awarding successful applicants.

Can a company win a Best Managed Companies award more
than once?

Yes. Winners have the opportunity to requalify as a Best Managed Company after their initial win, subject to an annual and operational and financial review. Requalifying companies retain all of the benefits of being an award winner and have the opportunity to work towards the prestigious Gold Award (4 years as a Best Managed) & Platinum Award (7 Years as a Best Managed) Awards, leading to more media coverage and encouraging continued commitment from staff and
stakeholders.

What are the different Award Levels?

Companies are awarded based on the number of years that they have successfully qualified for the programme.

  • Year 1 - Best Managed new winner
  • Year 2 & 3 - Best Managed requalifying winner
  • Year 4 - Gold Standard winner
  • Year 5 & 6 - Gold Standard requalifying winner
  • Year 7 - Platinum Club winner
  • Year 8 and beyond Platinum Club Requalifying winner

 

When is the Symposium and Gala Awards?

This year’s Best Managed Companies Symposium and Gala
took place in the Convention Centre Dublin on 6th March.

Who attends the Symposium?

The Symposium is run by the Irish Management Institute, the programme’s academic partner and is an exclusive, invitation-only event and is one of the key rewards for winners. Business educators from IMI, thought leaders from Deloitte and guest speakers will lead a variety of interactive sessions, providing exclusive insights and practical, targeted advice. It also allows winners (CEOs and their management teams) to spend a day sharing best practices and new ideas, while learning practical tools that Best Managed Companies leaders can apply immediately to drive their business.

Who attends the Gala Awards?

The black-tie Gala Awards Ceremony occurs on the same day
as the Symposium. The Gala honours all winning companies from across the
country.

The Gala is attended by new, requalifying, Gold Standard and Platinum Club companies and the programme sponsors. Best Managed Companies honours and celebrates the achievements of the entire organisation. Invitees are also welcome to bring along their management teams and other guests including clients, suppliers, vendors and any other business associates to join them in celebrating their company’s achievements.

 

For further information please contact: iebmc@deloitte.ie

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