Managing their way to the top

Financial services firm Deloitte is inviting applications for its latest Best Managed Companies Awards
ment," Sheehan said. "Clearly, we in Ireland are coming off the back of three or four very challenging years and we are all hoping things will be better going forward. "This year, we are really looking for companies to demonstrate to the judging panel that they have organised their people, resources, knowledge and assets in such a way that they maximise the return to their shareholders. In doing so, they must build robust, innovative and adaptable strategies suitable to a time of perhaps steady and sustainable
growth"

said Sheehan. "These have ranged from technology companies to food companies to travel companies. Companies of all sizes have also got involved. Our largest entrant to date had a 4 billion turnover and our smallest had 7.2 million. You name it, they have entered the programme."

Economic contribution
Sheehan said the winning companies, over the first three
years of Ireland's Best Managed Companies awards programme, had combined

"Companies must be established for at least five years and have a decent track record of profitability and growth during the last three years," Sheehan said. "They must be Irish or Northern-Irish owned, managed or controlled. They must also have a turnover in excess of 5 million or stg4 million." Sheehan expects export plans to figure prominently in the business strategies outlined by this year's applicants. "Companies which tradi-

counties.

tionally have focused their efto

Programme,
writes Dermot Corrigan

forts just on Ireland in order

About the awards

The Best Managed Compa-

revenues of 6.9 billion and employed more than 18,800

people.

nies Programme was first held in its in Canada in 1993, where it has fourth year, become the country's leading the Deloitte business awards programme. Best Mana- In addition to Ireland and Caged Compa- nada, Best Managed companies Awards nies are chosen each year in the Netherlands and Mexico. Programme recognises and reAlongside Deloitte, Irish wards the highest performers Life Corporate Business, the in indigenous Irish business. "The purpose of the Best Irish Management Institute Managed Companies Awards and The Sunday Business Post Programme is to recognise Ir- are on board as programme ish companies, which are oper- sponsors for this year's awards ating at the highest level of programme. Twenty home-grown Irish performance," said Kevin companies achieved Best Sheehan, partner, Deloitte. "Over the last three years of Managed Companies status the competition, we have been earlier this year under the continually impressed by the 2010/2011 awards programme. management skills in Irish All were recognised at a gala companies and we expect more dinner at Dublin's Burlington Hotel, which was held last of the same this year. We are encouraging these leading in- March. Peter Sutherland, the former digenous Irish companies and director general of the World managers to come forward and receive the recognition Trade Organisation, was the they deserve." keynote speaker at the event.

Now

These statistics emphasised the important role indigenous firms would play in Ireland's economic recovery, Sheehan said. "Over the history of the Best Managed awards in Ireland we have seen companies tackle head on the challenges and issues they have faced," he said. "They have implemented innovative strategies with a strong focus on diversification, product development and R&D, overseas expansion and talent
management."
The Deloitte Best Managed Companies Awards Programme 2011/2012 is open to Irish-owned operating companies in all sectors in the 32

well," he said. "We know that Irish companies are hungry for growth so, this year, we expect to see an increased focus on international markets ran-

spread their wings are looking to Britain and further afield as

Arab Emirates."

ging from the US to the United

Judging process
the island of Ireland that considers a business' performance from all angles. Companies that wish to enter this year's programme can complete an online application form at
progress to the second

The Deloitte Best Managed Companies Awards Programme is the only scheme on

'We know that Irish

companies

phase of the competition, where they will be assessed by an independent judging panel on the basis of a broad range of factors, including strategy, capability,

www.deloittebestmanaged.ie. Successful applicants will

commitment, financials and

management performance
across all key functions of the business. "Phase two of the application process is quite in-depth," said Sheehan. "The Best Managed Companies judging panel, which includes a team of experienced coaches from Deloitte and Irish Life Corporate Business, meet with each company. The judges take a holistic view of the companies, their performance in relation to their peers and the industries they are operating in, in order to determine management success." Sheehan said companies

These winners were drawn

Rising to the challenge

The theme of this year's awards programme Rising to the Challenge will draw particular attention to those firms that are finding ways to overcome the limits imposed by the recession. "We always look to set the theme around what is happening in the business environ-

from a range of sectors, including financial services, information technology, healthcare, food and beverage and energy. Special recognition was given to category winners Merlin Car Auctions, PM Group, Mount Charles Catering and Silver Hill Foods. "Our experience over the first three years of the competition has been that a huge variety of companies from different sectors and industries apply,"

are hungry for growth'

that progressed to this stage of the competition had the benefit of customised feedback from the members of the judging panel. "The judges assist the companies in building their submission and really critique it and give a new perspective," he said. "That works as a real challenge to 'companies' business plans and strategies. The companies involved all gain valuable insights into the ingredients for the long-term success of their business." According to Sheehan, one of the main benefits of involvement in the programme is the opportunity it gives participants to network with other like-minded firms. "The programme this year kicks off a number of Best Managed networking events throughout the year, the first of which is taking place Tuesday May 31 in Deloitte's offices in Dublin. All winning companies, over the last three years, have been invited to attend," he said. "The Irish Manage-

ment Institute symposium and the gala awards ceremony each

nities to celebrate Irish business with peers from the Irish business community." Firms that succeed in achieving Deloitte Best Managed Companies status could use the designation as an effective marketing tool, Sheehan said. "Being recognised at a national award is very significant for the companies involved," he said. "Companies always tell us of the value they get from being associated with this programme's organisers and sponsors. Being recognised by people of the calibre of Deloitte, the Irish Management Institute, The Sunday Business Post and Irish Life Corporate Business gives a real boost to their business and to the morale of their own employees." Association with the Deloitte brand can be particularly useful for companies looking to build their business overseas.

year, are also great opportu-

One company was on a trade mission to Canada, where the Best Managed programme was initially created," said Sheehan. "They felt that having Deloitte Best Managed Company designation opened doors for them there in terms of people who were prepared to meet them and discuss potential business opportunities."

Positive

feedback
companies that were previously involved in the programme, highlighted its potential benefits.
"We run various surveys after the programme each year to find out what the companies thought of their experience and what they gained from being involved," he said. "Each year they tell us about the value and importance of the coaching they have received during the process. Firms which have gone

Sheehan said feedback from

volved." Sheehan urged Irish-owned companies, which met with the programme criteria, to consider entering this year's competition. 'We would certainly encourage companies of all sizes and specialities to give it a shot," he said. 'They can go to the website and see what is involved. There are definite benefits for all companies who enter and everyone we have spoken to in past years has seen their involvement with the programme as a really worthwhile experience."
and how to enter the awards, visit www. deloitte bestmanaged.ie. The closing date for entries is Friday, August 12, 2011. The winners of the Deloitte Best Managed Companies Awards will be announced in March 2012 For

through the process feel this is the biggest benefit of being in-

details

further information

of

Tom McCarthy, chief executive Irish Management Institute and judging panel member, Brendan Jennings, managing partner, Deloitte and judging panel member and Cliff Taylor, editor, The Sunday Business Post, media partner of the awards programme at the launch of the Deloitte Best Managed Companies Awards Programme

Kevin Sheehan, partner, Deloitte