Romania Best Managed Companies Gala – 2nd edition

At what stage is the maturation process of the Romanian entrepreneurial environment and how can local businesses compete on an equal footing with companies with foreign capital? Which are the companies certified in the second edition of the Best Managed Companies program?

The second edition of the Best Managed Companies Romania program aroused the interest of over 100 entrepreneurial companies, of which 40 reached the main stage, that of the workshops organized by Deloitte together with the program partners. The 40 companies have turnovers of over 20 million euros, are headquartered in Romania and have Romanian shareholders or management team residing in Romania (the full list of eligibility criteria is available here).

The "Best Managed Companies" methodology encourages companies to repeatedly enroll in the program, in consecutive years, on order to confirm and improve their performance, so the gala will also highlight the experience of companies that have participated in the program for the second year in a row.

What are the conclusions of the second local edition of the program? How does the performance of entrepreneurial companies evolve? How do Romanian entrepreneurs see the challenge of consolidating business growth and keeping up with companies with foreign capital?

The gala aims to engage the participants - participating companies, partners and members of the program's independent jury, as well as other relevant representatives of the local business environment - in an exchange of ideas regarding the priorities of the Romanian entrepreneurial environment and solutions to strengthen its growth.

The event will be live streamed on Facebook and on Ziarul Financiar’s website, our media partner for the gala.

How does the Best Managed Companies program work?

Best Managed Companies is not a simple competition, in which enrolled companies are evaluated comparatively, but a consistent process of knowledge and self-knowledge, which takes place over several months. Thus, the companies selected after completing the registration form entered the workshop phase facilitated by professionals from Deloitte, Banca Transilvania, the Bucharest Stock Exchange and the European Bank for Reconstruction and Development, which allowed them to analyze their performance according to the methodology international Deloitte, based on four pillars: strategy, culture and engagement, innovation and resources, governance and financials.

Each company that took part in the workshops has undergone a self-analysis on strategic and operational aspects of their business, which allowed for a transfer of knowledge on international best practices from the workshops’ coaches to the companies’ management teams and led to identifying their strong points, as well as areas of improvement.

At the end of this stage, an independent jury analyzed the participant companies and decided on the ones whose organizational and managerial practices align to the Best Managed Companies standard.

Therefore, for the companies enrolled every year, the program provides a certification and not just an award, and the Best Managed Companies culture encourages repetitive participation and results’ improvement from a year to the next. For the companies that receive this recognition, the certification can be validated every year, provided that they preserve or improve their performance assessed against the objective international standard. For those who participated but didn’t receive the recognition, the certification can be obtained in the following years’ editions, as they work of their areas of improvement identified during the workshops. Other countries’ experience with the program shows that, by repetitively joining in the program, most of the uncertified companies make significant qualitative progress and can eventually get the recognition.

In many countries where Deloitte organizes Best Managed Companies, about one third of the companies selected to enter the second phase, of the workshops, manage to receive the certification. What will be the outcome in Romania during this second local edition of the program?

Agenda evenimentului

19:00-19:10 – Opening speech

Andrei Burz-Pînzaru, Partner, Deloitte, and leader of the Deloitte Private program in Romania

19:10 - 19:40 – Panel with the program’s partners: What are the needs of Romanian entrepreneurs in the current development phase? How can local entrepreneurs prepare themselves to compete on an equal footing with foreign capital firms and ensure their growth?

Speakers:

Omer Tetik, CEO, Banca Transilvania

Victoria Zinchuk, Country Director, the European Bank for Reconstruction and Development

Radu Hanga, President of the Board of Directors, the Bucharest Stock Exchange

Moderator:

Alexandru Reff, Country Managing Partner Deloitte Romania and Moldova

19:40 - 20:10 – Panel with the members of the jury: What do the four pillars analyzed by the program – strategy, culture and commitment, innovation and resources, governance and financial aspects – tell us about the companies’ performance?

Speakers:

Cristian Popa, Member of the Board, the National Bank of Romania

Cristian Nacu, Senior Country Officer, International Finance Corporation

Dorel Paraschiv, Deputy Rector, the Academy of Economic Studies

Moderator:

Andrei Burz-Pînzaru, Partner, Deloitte, and leader of the Deloitte Private program in Romania

20:10 - 21:20 – Announcement of certified companies and awarding ceremony