About Best Managed Companies
Best Managed Companies was launched in Ireland in 2008. Year on year the programme continues to launch around the globe.
Best Managed Companies - in association with Bank of Ireland - recognises excellence in Irish and Northern Irish owned and managed companies and is a symbol of organisational success and achievement. The awards programme celebrates companies across the island of Ireland that demonstrate superior business performance.
Winning businesses can requalify for a further two years, then they have the opportunity to apply for the Gold Standard award in the fourth year. Winners that maintain Best Managed status for seven consecutive years are awarded the Prestigious Platinum Status.
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 representatives. Not only is this a chance to fine tune your application, 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 gained during the coaching process.
A network like no other
This prestigious programme provides abundant networking opportunities throughout the year at a series of events. Winning companies become part of an exclusive network of Best Managed Companies. Our annual symposium, run in conjunction with the Irish Management Institute 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 an exclusive, black tie, gala awards ceremony that is recognised by other business leaders as one of the most important events in the networking calendar.
Publicity you can't buy
As a winner, you will have exclusive use of the Best Managed Companies designation. This is an important marketing tool for your business, both nationally and internationally. 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. Also, as the award recognises the entire company - not just one individual – internal stakeholders and staff will share in the success.
Is this awards programme new in Ireland?
The programme is entering its 12th 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.
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?
Best Managed Companies is the only awards programme in Ireland that recognises overall business performance of Irish/Northern Irish owned and managed companies (incorporated in the Republic of Ireland or in Northern Ireland).
What decision criteria are used to determine a Best Managed company?
The judging panel will examine companies under the four pillars of Strategy, Capability, Commitment 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. It recognises the achievements of management teams, not just individuals.
What is the official programme name?
The official programme name is "Best Managed Companies".
Who can apply?
Eligibility criteria for entering the programme are as follows:
- Companies must be Irish/Northern Irish, substantially privately owned, managed and controlled (incorporated in either the Republic of Ireland or Northern Ireland.
- Have a turnover in excess of €10 million /£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
Can a company win a Best Managed Companies award more than once?
Yes. The Best Managed Companies winners are entitled to use the designation for an additional two years - subject to an annual operational and financial review or "Requalification process". For example, a first-time winning company in 2018 would need to successfully complete the re-qualification application for 2019 and 2020. A requalified member retains all the benefits that exist with winning the award.
How does a company apply for re-qualification membership?
Companies can apply to be re-qualified members for the next two years after winning the award. That means a company recognised initially in 2018 can be a re-qualified member in 2019 and 2020.
Symposium and Gala
Best Managed Companies Symposium and the Gala Awards Cermony will take place on Friday, 6 March 2020 in the Convention Centre Dublin.
What is the Symposium and who can attend?
The Symposium is run by the Irish Management Institute 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.
What is the Gala Awards and who can attend?
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.