What is Best Managed Companies?

Best Managed Companies is an awards program recognising privately held companies for their organisational success and achievement. The program provides a distinct framework for management teams to challenge themselves and benchmark against some of the best private companies in the world.

Best Managed winners are recognised at an awards ceremony and invited to a regional symposium where they can network with other outstanding private sector leaders and hear from business educators and industry professionals specialising in private enterprise.

The Best Managed Companies program was established in 1993 in Canada and has become the most significant business awards of its kind. The program is active in 48 countries in the Americas, Europe and Australasia and is launching across Africa.

We’re celebrating the hard work, passion, and pioneering ideas that emanate from family business and privately-held companies across the country. Will you be one of Thailand’s Best Managed companies?

What’s in it for your company?

The Best Managed Companies evaluation framework, grounded in over 30 years of global awards history, supports companies in their growth and shares best practices.

Apply for the awards as an investment in your company’s future. By challenging your executive team against global management excellence standards, you gain valuable insights to sharpen strategies and optimise growth.

For applicants:

• Gain an independent view of your business from industry experts
• Benchmark against some of the best private companies from across the world
• Learn of practical solutions that Best Managed leaders apply to drive initiatives within their business
• Explore growth opportunities during one-on-one coaching sessions with private enterprise specialists (for companies progressing to the second phase of the awards process)

For winners:

• Enjoy exclusive use of the Best Managed Companies’ designation
• Join a community of Best Managed companies from across the world
• Strengthen your ability to attract and retain great talent
• Network with other exceptional private company business leaders from across Southeast Asia
• Attract business and enhance your value proposition in tenders
• Raise company profile to attain investment through mergers or acquisition, through listing, or private equity
• Access a range of business forums and discovery sessions

Thailand's Best Managed Companies is a program that aims to challenge and recognise the overall strength of successful privately-owned companies, while coaching and awarding their leadership teams. 

1. Thailand's Best Managed Companies program is open to all companies who satisfy the eligibility criteria.

2. Companies will need to complete an Eligibility application form to confirm eligibility via a secure online website.

3. Applicants will be required to confirm that the information contained in their application form is accurate, and that they have obtained all necessary authorisations, including consents, to permit handling of this information, in accordance with the Thailand's Best Managed Companies program Code of Conduct and Terms and Conditions.

4. Applicants that successfully meet the Eligibility will be notified and invited to proceed to Apply. The application will include an in-depth application, Best Managed Lab, and Coach meetings.

• Best Managed Lab – The Best Managed applicant lab is designed to help companies complete over 80% of the Application. Deloitte facilitators will collaborate with your executive team and focus on key elements of what it takes to be Best Managed.

5. The Best Managed applicants will be reviewed during regional and national judging processes including a review by an external judging panel consisting of program sponsors and Best Managed CEOs. Companies will be evaluated against the global Best Managed Companies framework in which management abilities and practices are assessed in the following domains: clear strategy, strong capabilities, company commitment and financial performance. The judging panel reserves the right to de-select an application at any stage of the program.

6. The jury decision of Thailand's Best Managed Companies is based on the information provided by the applicant within the self-assessment and commentary provided by their coaches. The applicant remains responsible for the provided information. At no times, should the jury’s decision be interpreted as a professional attestation or opinion based on the necessary audit steps. The judging panel’s decision, regarding the award of the Best Managed Companies program and the companies that will be awarded, is indisputable.

7. Applicants agree that Deloitte may incorporate a link to their corporate website on Thailand's Best Managed Companies program website if they are selected.

Thailand's Best Managed Companies program respects the privacy of applicants and their identified contacts and has put in place processes to support this. Individuals may review, update and correct their personal information, and request removal from the mailing list.

Who can apply?

To enter the awards program, companies must satisfy the following eligibility criteria:

• In operation for at least 5 years
• Annual revenue or enterprise value of at least USD 50 million (in the most recent financial year)
• HQ or major decision-making centre in Thailand
• Fully compliant with the prevailing legal, tax and ethical frameworks within the operating countries
• Public companies where the majority stake (> 50%) is privately held by residents or entities within Thailand
  

1. How does a company apply to be one of Thailand's Best Managed Companies?

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

Phase I – The online application
The first phase verifies eligibility and should only take 30-90 minutes to complete the online form with the information on-hand.

Phase II – The applicant lab experience
Our Deloitte coaches and financial partners work with applicants in a one-to-one lab to understand the company’s business, provide insights, and help them benchmark against some of the strongest and most progressive private companies in the world.

The Best Managed benchmarks are observed best practice based on more than 25 years of the awards’ history.

The lab is two hours long.

Post-lab we share the Best Managed framework and benchmarks, and the applicant insights. Applicants use this information to complete their Phase II and final application.

2. Is there any cost to apply to be one of Thailand's Best Managed Companies?

There is no cost to participate in the program.

3. When do applications close?

Applications for the 2025 edition will close on 28 February 2025.

Apply now at https://bestmanaged.awardsplatform.com

4. What privacy policies apply in the handling of company information?

All submissions are treated as confidential and the program adheres to Deloitte's stringent privacy and confidentiality policies.

5. About the awards ceremony

We welcome the winners of Best Managed Companies Thailand to join us at an awards ceremony where we celebrate the achievements of all the companies who have been awarded this prestigious title. Winning companies are provided a number of tickets and are welcome to bring along their management teams and other guests including clients, suppliers and business associates.

6. About the regional symposium

The Best Managed Companies Symposium is an exclusive, invitation-only, half-day regional event. It gathers key executives from winning companies for an engaging program of panel discussions and interactive sessions led by business educators, thought leaders, and industry experts. The symposium offers valuable insights and practical advice tailored to private companies. It provides an opportunity for executives to exchange best practices, share innovative ideas, and gain actionable tools to drive business growth and lead successful initiatives.

7. About the global Best Managed Companies program

The Best Managed Companies program was established in 1993 in Canada and has become the most significant business awards of its kind. The program is active in more than 45 countries across Asia Pacific, the Americas, and Europe.

8. Is Best Managed Companies an annual award?

Yes, the Best Managed Companies program is an annual award. Winners have the opportunity to requalify each year based on an operational and financial review. Companies that consistently requalify are eligible for the prestigious Gold and Platinum Awards. Here's how it works

Year 1 - Best Managed new winner
Year 2 & 3 - Best Managed winner
Year 4 - Gold Standard winner
Year 5 & 6 - Gold Standard winner
Year 7 onwards - Platinum Club winner

The Thailand's Best Managed Companies program aims to inspire, celebrate and build a community of private businesses that are creating a better future. A leading business awards program, recognising excellence in private Thailand-owned companies, it celebrates the entrepreneurial spirit, determination and innovation of the private business community.

Companies undergo a rigorous application process and are judged on core business criteria across four pillars - Strategy, Capabilities and Innovation, Culture and Commitment, Governance and Financials - by an external panel of judges.

This prestigious designation becomes a fundamental part of who the Best Managed companies are and how they are perceived in their respective markets. As a member of the community, each company has an obligation to live and uphold the behaviours outlined in this Code.

The following four commitments illustrate the program’s core expectations of winning companies:

1. Integrity

As a Best Managed company, we will act lawfully, honestly, ethically and with integrity towards our customers, employees, vendors and stakeholders.

Best Managed companies are truthful and honest about the business information provided to the Best Managed program:

• Best Managed companies must abide by federal and provincial laws
• Best Managed candidates will not exert undue influence upon program coaches, sponsors, or judges
• Best Managed companies must update any change in business affecting their designation (ownership, financial, legal) when re-qualifying year over year

Treat interactions with program sponsors, partners and their staff with the same honesty and integrity that you would apply within your own organisation.

2. Foster diversity, equity and inclusion

All Best Managed companies have a role to play in helping Thailand on the path to a more inclusive environment. As a member of this community, we foster a culture and working environment where people treat each other with respect, courtesy and fairness, promoting equal opportunity for all.

• Actively build an anti-racist capability to start making intentional changes within your organisation
• Embed gender and diversity-smart approaches into recruitment & development, including performance management, promotion, succession and pay processes
• Create and support cultural awareness programs and learnings for all employees
• Implement employee assistance programs related to diversity, equity inclusion and accessibility so employees can feel comfortable and bring their whole selves to work
• Provide DE&I training for all members of the organisation
• Provide flexible and accessible work arrangements and remote work opportunities where applicable

3. Commitment to upholding the standard of the Best Managed program designation through the four pillars

As a Best Managed company, we commit to upholding quality among the four pillars (Strategy, Capabilities and Innovation, Culture and Commitment, Governance and Financials), and the program brand standards and identity.

Upholding brand standards

• The Best Managed designation represents strong private companies that are the economic engine of this country. The brand is a result of the outstanding companies in the program and is recognised coast to coast. As a Best Managed company, we agree to uphold this brand legacy and follow brand and logo guidelines.
• Uphold program brand standards consistent with the four pillars (Strategy, Capabilities & Innovation, Culture & Commitment, Governance & Financials)
• Proper use of current logo by awarded entity (see ‘Logo use with affiliated companies’).
• Proper use of designation naming convention – “Thailand's Best Managed Companies”
• Logo use permitted for duration of program year. Must be removed immediately should the company chose not to re-apply, or become ineligible

Commitment to upholding the standard of the Best Managed program designation through the four pillars

• Continuously evolve and improve upon your strategy
• Drive a culture of innovation and productivity
• Foster a purpose-led culture
• Put your customers and employees first
• Drive year over year revenue growth through strong strategy, governance and operational efficiency

4. Best Managed community role model

We commit to participate in the Best Managed community through program activities & events, while treating all members with dignity and respect. We also commit to be a respectable citizen within society and doing our part to build a positive future for Thailand's economy.

• Participate in Best Managed programming and events
• Act as a mentor to new members of the Best Managed community
• Engage in social media conversation with Best Managed community (#BestManaged)
• Act as a Best Managed brand ambassador, abiding by the terms under ‘Upholding brand standards’
• Contribute to Best Managed objective of ‘making all businesses better’ by participating in research (i.e., surveys, case studies), panels and speaking opportunities

These terms and conditions apply to the Best Managed Companies program (“Program”) provided and facilitated in Thailand by Deloitte.

1. Your Information

a. You acknowledge and agree that all information provided in the Program Entry Form, or given subsequently as part of the due diligence, Applicant Lab and judging process (collectively ‘Entry Information’) is correct and up-to-date.

b. By submitting the Entry Information, you confirm that you have the authority and appropriate permission and consent from your Company and those individuals referred to in the Entry Information to provide this information to Deloitte.

c. Deloitte acknowledges that all Entry Information is provided for the purposes of determining your eligibility for receiving the Best Managed Companies certification. The Entry Information will not be disclosed by Deloitte except on a confidential basis to the Program judging panel. Your information may also be shared with third parties that provide administrative, technical or support services to Deloitte for the purposes of the Program. We will ensure that your information is protected by those third parties to the same standards that we use to protect our own information here at Deloitte.

d. You agree that Entry Information gathered during the entry process can be retained and used for benchmarking and to develop insights and trends into what makes a business a Best Managed company in the country of application.

e. As part of entering the Program, you give us permission to contact you regarding the Program and its associated activities. This may occur through electronic messaging or other forms of communication. We may, on occasion, update you with news, information and other relevant initiatives that Deloitte believes will interest you. You may unsubscribe from these communications by selecting the unsubscribe link contained within the communications or by contacting the Program team.

f. If any Personal Information is contained within the Program Entry Form, you confirm that you have collected that Personal Information in accordance with the data protection or privacy laws applicable in the country where the individual concerned is located and such individual has authorised the disclosure to and use of their Personal Information by and they have been informed of their right to access and request correction of their Personal Information. Our Privacy Policy will apply to any Personal Information provided to us which can be accessed here.

2. Best Managed Lab

a. By submitting the Entry Information, you confirm that members of your leadership team will be available to attend the Applicant Lab on a mutually agreeable date and location.

b. You acknowledge that the Applicant Lab is designed to facilitate the Program certification process and should not in any way be considered Deloitte advice or recommendation or otherwise.

c. You acknowledge that Deloitte, its member firms, related entities, partners, employees or agents shall not be responsible for any loss or damage whatsoever arising directly or indirectly in connection with you relying on insights, discussions or communications or otherwise, shared during and in

connection to the Applicant Lab, or through the judging and award of the Program Certification.

3. Judging and post-application period

a. Deloitte reserves the right to:

i. conduct due diligence in relation to your Entry Information up to the point the Program Certifications are announced. In our sole discretion, we reserve the right to disqualify you from entry or receiving the Program Certification based on the results of any due diligence conducted.

ii. amend, vary, extend or discontinue the Program, including how your participation in the Program is publicised, at any time and for any reason.

iii. withdraw your Program Certification if you no longer meet the Program criteria, or you otherwise act in a manner that could bring Deloitte and/or the Program into disrepute.

b. The decision of the external Program Judging Panel will be final and no further correspondence will be entered into.

4. Branding and Logo

a. Once awarded, you may use the Best Managed Companies logo and associated branding on any promotional materials (including relevant websites) in alignment with the Deloitte brand guidelines. Deloitte reserves the right to request alteration or removal of the logo or other Program material at any point in time. Use of the Best Managed Companies logo excludes any right to reference or use the Deloitte name, logo or marks on any promotional material.

5. Acknowledgements

By entering the Program, you acknowledge and agree that you

a. accept these terms and conditions; and

b. provide Deloitte with a perpetual, non-exclusive, royalty free and transferable license to use and reproduce the name of the entrant (including any associated trademark or business name) and any non-financial information, photographs, videos, voice recordings, media coverage or other promotional material relating to the entrant and its directors, shareholders, employees, contractors or consultants participation in the Program for marketing purposes. You waive any claims to royalty, right or remuneration for such use and acknowledge you have the consent of any director, employee, contractor or consultant for this waiver.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.