Romania Best Managed Companies Gala 2022

Managerial performance in a time of overlapping crises. Who are Romania’s first Best Managed Companies?

The year when Deloitte celebrates 30 years of activity on the local market brings for the first time in Romania the Best Managed Companies program, which acknowledges private companies’ excellence in management, based on an international methodology analyzing the way the business is organized and run compared to international best practices in terms of strategy, culture and engagement, innovation and resources, governance and financials.

This inaugural edition in our country, organized in partnership with Banca Transilvania, has been joined by over 20 local entrepreneurial companies with turnovers between 10 and 75 million euros, Romania headquartered and owned by Romanians or managed by a Romania-based team (full list of eligibility criteria here).

Now the program has reached its final stage and designates the first series of Romanian entrepreneurial companies awarded with the Best Managed certification.

What has this first edition in Romania revealed on the local business environment? How can entrepreneurial companies tackle the overlapping crises of the recent years? What differentiates the Best Managed Companies program’s philosophy and methodology?

Romania Best Managed Companies Gala will be honoring performance and will engage attendants – companies which entered this inaugural edition, jury members, as well as other representatives of the local business environment – in exchanging ideas regarding the great challenges on the entrepreneurs’ agenda.

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

How does Best Managed Companies program work?

Best Managed Companies is not just a competition which assesses companies on a comparative basis, but a consistent knowledge and self-knowledge process, unrolling during several months. Thus, companies selected after filling in the submission forms have entered the workshops stage facilitated by Deloitte and Banca Transilvania coaches, which allowed them to analyze their own performance according to the Deloitte international methodology, 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 consisting of experts in various domains relevant to the entrepreneurial environment – the National Bank of Romania, the Bucharest Stock Exchange, the International Finance Corporation, the Bucharest University of Economic Studies –, analyzed the participant companies and chose the ones whose organizational and managerial practices align to the Best Managed Companies standard.

Therefore, for the participants, the program provides rather a certification than just an award, and the Best Managed Companies culture encourages repetitive participation and results’ improvement from a year to the next. For the awarded companies, the certification can be validated every year, provided that they preserve or improve their performance assessed against the objective international standard. For those which participated but didn’t receive the recognition, the certification can be obtained in the following years’ editions, if 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 eventually can 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? Watch the gala on November 17, 2022, from 7PM, in order to find out.

Agenda

19:00-19:15 – Opening speech

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

19:15-19:30 – How can we support the Romanian entrepreneurial environment and what does the Best Managed Companies program bring?

Alexandru Reff, Country Managing Partner, Deloitte Romania and Moldova, in dialogue with Omer Tetik, CEO, Banca Transilvania

19:30-19:50 – Jury panel: Companies’ performance against the four pillars analyzed within the program – strategy, culture and engagement, innovation and resources, governance and financials

Members of the Romania Best Managed Companies jury:

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

Cristian Nacu, Senior Country Officer, International Finance Corporation

Moderator: Andrei Burz-Pînzaru, Partner Reff & Associates | Deloitte Legal and Leader of the Deloitte Private program in Romania

19:50-20:30 – Winners announcement and awards ceremony

Speakers

• Omer Tetik, CEO, Banca Transilvania

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

• Cristian Nacu, Senior Country Officer, International Finance Corporation

• Alexandru Reff, Country Managing Partner, Deloitte Romania and Moldova

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