How are Best Managed applicants evaluated?
Insight into the evaluation process
Best Managed Companies exhibit a number of common attributes enabling sustained growth. Applicants are evaluated against four value drivers to determine whether they qualify as a Best Managed company.
Following the initial Phase 1 application, within Phase II coaches from Deloitte & FCIB, are assigned to work with eligible applicants to perform their self analysis across the four pillars – applicants receive hands-on coaching.
Following the conclusion of Phase II application process an independent panel of judges select the final winners. The company’s results are benchmarked against all other Best Managed companies finalists. Best Managed judges recognize common best practices among Best managed Winners:
- Emphasis on culture and people
- Sustained performance
- Strong Financial results
Please note: All information remains confidential in keeping with the programs privacy & confidentiality statement & non-disclosure agreements.
Evaluation Framework - Four pillars of a Best Managed Company
Most Best Managed companies have a formal methodology for strategy development, ensure the strategy reflects all stakeholders, have the right capabilities and metrics in place to execute their strategy, and clearly and consistently communicate the strategy to all levels of the organization.
Capabilities and Innovation
Best Managed companies develop valuable capabilities and resources, are highly execution-oriented, are focused on productivity and innovation, and are thoughtful about hiring the right people to execute their business model and strategy.
Culture and Commitment
Best Managed companies build a strong corporate culture and legacy, actively develop their people and leadership team, provide a holistic compensation system, and address continuity issues within the company.
Governance and Financials
Best Managed companies install strong governance structures, use KPIs to manage their progress, maintain a strong balance sheet, and apply the financial discipline required to drive revenue growth, improve operating margin, and increase asset efficiency.
Best Managed Companies Program designed by Deloitte