Best Managed contenders from every corner and sector in Ireland as shortlist announced
Issued 7 October 2012
Deloitte, the leading business advisory firm, in association with Irish Life Corporate Business, has today announced the indigenous Irish companies that have been shortlisted to be among Ireland’s Best Managed Companies.
Now in its fifth year, the Best Managed Companies Awards will recognise indigenous Irish companies across the island of Ireland that are operating at the highest levels of business performance.
The shortlisted companies are drawn from a variety of industries including manufacturing, technology and media, financial services, energy and resources, consumer business, life sciences and healthcare, and hospitality amongst others. All four provinces in Ireland are represented. There are 25 companies from Leinster, followed by Munster with 10 companies.
There are eight companies from Ulster. Dublin has a strong representation, with 18 companies featuring on the list. Other counties represented include Antrim, Cork, Limerick, Galway, Armagh, Kilkenny, Waterford, Monaghan and Kerry.
The companies are through to the second phase of the Best Managed Companies competition, where they will demonstrate to the judging panel how their organisations are meeting their strategic objectives and adding value to their businesses. During this process, the companies will work closely with coaches from Deloitte and Irish Life Corporate Business and will receive customised feedback, thereby benefiting from the valuable business advice and expertise.
Kevin Sheehan, Partner, Deloitte said: “We are delighted to announce our shortlisted companies, and it is extremely positive that we have such strong contenders this year. At this stage in the process, the shortlisted companies are working closely with our Best Managed coaches on their phase II submissions for the judging panel.
"Feedback that we have received from previous winners is that they have found this process to be extremely beneficial and practical in relation to their company’s future strategy and is a considerable benefit of participating in the programme. We are delighted to be working with these companies and wish them every success as they continue on their ‘best managed’ journey.”
In August, a survey of the companies who have been recognised as Best Managed Companies to date emphasised that optimism is on the rise among indigenous Irish companies. 9 out of 10 of these companies indicated that they planned to expand their business in the coming year. The annual survey also found that 80% of respondents plan to recruit in 2012 while half aim to complete M&A activity in the next 12 months.
The judging panel, which this year will be chaired once again by Liam O’Mahony, will be looking at a broad range of criteria when deciding this year’s twenty best managed companies - including strategy, capability, commitment, financials and growth potential across all key functions of the business. In addition, this year the judges will be paying close attention to the innovative strategies companies are adopting to ensure their continued success, be it diversification, product development and R&D, overseas expansion and talent management, among others.
Siobhan McAleer, Head of Strategic Partnerships at the Irish Management Institute, and judging panel member commented: “What is encouraging about this year’s shortlist is that these companies are drawn from a diverse variety of sectors - both new and emerging and also more traditional sectors. This shows that these companies are adapting and developing their management practices to compete in new and challenged markets. However, this doesn’t make the judging process any easier. In fact it is harder to decide which of these already well managed companies are the best managed. That said, the ones that foster innovation and are agile are the companies that will stand out.”
This is the fifth year of the Deloitte Best Managed Companies Awards which are open to companies from all 32 counties on the island of Ireland. It is the only awards programme that considers a business’ performance from every perspective, not just financial. The companies that have been awarded the Deloitte Best Managed Company accolade to date have total revenues of over €10 billion and employ over 24,000 people. The winners of this year’s awards will be announced in March 2013.
Notes to editors
Companies which were first awarded the Deloitte Best Managed Company award in 2009, and requalified for a further two years, must re-enter the awards programme in order to regain the Deloitte Best Managed Company accolade.
John McGuinness/Jill Farrelly
01 498 0300
About Deloitte Best Managed Companies Awards
The Deloitte Best Managed Companies programme, in association with Irish Life Corporate Business, promotes and recognises excellence in Irish/Northern Irish owned and managed companies. It is the only awards scheme on the island of Ireland that considers a business’ performance from every perspective. Entrants to the programme will compete for this designation in a rigorous and independent process that evaluates the calibre of their management abilities and practices.
Programme sponsors are Irish Life Corporate Business, the Irish Management Institute and the Sunday Business Post.
For further information, visit www.deloittebestmanaged.ie.
International History of Best Managed Companies Programme
The Best Managed Companies Programme originated in Canada in 1993, where it has been run successfully ever since and is the country’s leading business awards programme. In addition to Ireland and Canada, the programme is also run in The Netherlands and Mexico.