Best Managed Companies personifies outstanding Australian businesses and what drives them to be the best. Our Best Managed Companies program uses a tried and tested framework for determining success.
Developed from over 30 years of insights from Deloitte Canada’s program, it focuses on four pillars which a business is benchmarked across:
Strategy: Best Managed Companies apply a formal methodology for strategy development, ensure the strategy reflects all stakeholders, have the right capabilities/metrics in place and clearly and consistently communicate the strategy to all levels of the organisation
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, create an inclusive culture and address continuity issues within the company.
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.
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.
Companies who want to apply must meet the following criteria:
Revenue greater than AUD $100million in the most recent year of business
Australian-owned private company; OR
Foreign-owned, Australian-based (global) headquarters; private company where management team resides in Australia; OR
Australian-owned portfolio company controlled by Australian venture capital and Australian private equity firms (greater than 50%); OR
Australian-owned public company with fewer than 50% of their shares or units traded
Been in operation for more than three years with financial documentation
The following companies are ineligible:
Australian-owned public companies with more than 50% of their shares or units traded;
Credit unions, banks, mutual or co-operative insurance companies;
Subsidiaries of a foreign owned parent where GLOBAL HQ or management is NOT located in Australia;
Charities and not-for-profit;
Government/public sector agencies.
Additionally, all companies will be subject to independence review and verification. For questions concerning eligibility, please contact firstname.lastname@example.org.
The application process
To be considered for Best Managed Companies, new applicants must go through a two phase application process.
Step 1: Register for the program (Phase 1) Register for the program by completing the Phase 1 online application form. All companies deemed eligible are then invited to complete a further more detailed submission.
Step 2: Complete your submission (Phase 2) Companies shortlisted for the Phase 2 process will work with coaches from Deloitte Private in a 1 on 1 executive team lab prior to completing their submission.
Step 3: Review of your submission Submissions are reviewed by coaches and an independent judging panel.
Step 4: Awarding Winners will be announced at the annual Symposium and Award celebration event in March 2024.
Shortlisted businesses not only receive opportunities to promote their success to customers, shareholders and employees, but gain a 360 degree view of their business. Through the application process and in partnership with your Coach, you’ll deep dive into the pillars of business best practice to discover where your strengths and opportunities lie. In addition to your dedicated Coach, you’ll also have access to our exclusive alumni community. Our Best Managed Companies program does more than recognise success – it sets a foundation for even more of it.
Benefits for all applicants
Independent view of business and benchmark framework
Coaching process including insights on company’s strategy and performance
Best Managed Lab at no charge for leadership team to dig deep into program pillars, facilitated by Deloitte experts
Benefits for winners
Increased market visibility and credibility through exclusive use of Best Managed Companies brand, both nationally and globally
Strengthened ability to attract and retain top talent through use of trusted Best Managed credential
Rich networking opportunities among a global community with other business leaders and sponsors at exclusive events throughout the year
National, regional, and social media exposure
Professional development through year-round learning opportunities
Exclusive use of the Best Managed Companies designation
Celebration of the entire company’s efforts at annual winners’ event and invitations to local and global events.
How long does it take a company to apply online? The phase one registration process should take a representative of your company no longer than 20-30 minutes to complete. The representative must be an appropriately authorised director or employee of the company applying.
Is my company guaranteed a place to participate in the Best Managed Program for 2023? Your phase one application will be reviewed by Deloitte to determine eligibility and in consultation with our co-sponsors (where appropriate) we will confirm with you soon after registration. As a global organisation, Deloitte must adhere to strict independence requirements.
Is there a fee to apply?
There is no fee to apply and participate in the program.
Is there a deadline to apply?
Registration to participate in Australia’s Best Managed Companies 2023 program is now open until 30th September 2023.
How does the lab coaching process work?
Deloitte Partner coaches are assigned to assist your company with the application process, including facilitating a 3-hour lab (workshop). The lab is structured to deep dive into the four key pillars of the global best managed companies program framework being i) strategy, ii) culture, iii) innovation capabilities and iv) finance and governance.It’s during the lab that the coaches will draw out your company’s strengths and identify any areas for further improvement, against the key global benchmarks in each of these pillars.
Do I need to prepare anything for the lab?
No formal preparation for the lab is required by your company.
Who is required to be present in the lab?
The most appropriate attendees should be your company key decision makers who understand the business strategy, operations and finance. Therefore, we recommend CEOs, CFOs, CHRO’s, COOs, CSOs, MDs and CMOs.
Who attends the labs from Deloitte?
The lab will involve your assigned Deloitte Partner Coach, your Deloitte Lead Client Service Partner (if applicable), a facilitator and if beneficial an additional SME expert.
What happens after the lab?
We provide your company with summarised lab notes captured by the facilitator and other Deloitte team members. This information will assist your company in completing your written submission online for final assessment. The final application is submitted online using your Best Managed Companies registered login.
How long does the online submission take to complete?
This part comprises questions across four key pillars of global benchmarking addressed in the lab session. Different questions may need to be completed by the most relevant person/s in your company. We often find the marketing team in a company is best placed to support this process. We would expect your online submission to take no longer than 6 hours in total which may include review by your coach prior to submitting.
What else is required?
The award submission also requires your logo files, audited financial statements and any other voluntary relevant documentations to support your submission.
Can I save my information and come back to complete my online application at a later stage?
Yes, an applicant can save and return to complete an application by logging into their profile via the registration link.
Can I share access to the portal to complete the submission?
No, we ask that the questions be completed by one contact in your company who is able to consolidate the required input for each of the questions. We often see the submission completed by a Business Development or Marketing contact.
For any other enquiries you can contact the privacy review team at email@example.com.
What happens after my Best Managed Company application is submitted online?
You will receive an automated confirmation when it has been successfully submitted. Your submission will be sent to our independent Judges for careful review. The Judges will nominate your company as Best Managed if you meet the Global benchmark to be deemed a Best Managed Company. You will be notified before the Symposium & Gala event of the outcome.
What happens if my application for Best Managed Company is not successful? One of the most important aspects of the Best Managed Companies program is the opportunity that the program provides for your company to be part of a global ecosystem of like-minded companies that are focused on continuous improvement. The award, while beneficial, is one element of a very comprehensive long-running program.
Let’s make this work.
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