Established in 1993, Canada's 50 Best Managed Companies is the country’s leading business awards program, recognizing excellence in Canadian-owned and -managed companies with revenues over $10 million.
Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous and independent process that evaluates the caliber of their management abilities and practices.
The Best Managed designation symbolizes Canadian corporate success: companies focused on their core vision, creating stakeholder value and excelling in the global economy. The program has continued to raise the profile of Canadian-owned businesses that have:
- Outperformed their competitors
- Created thousands of jobs
- Achieved sustainable growth
- Excelled both at home and abroad
Identifying Canada’s 50 Best Managed Companies is a two-phase process. For Phase I, companies must complete the online application. Phase I successful applicants will be notified and invited to proceed to Phase II.
Companies selected to move to Phase II are asked to present in their own words how they develop strategy, demonstrate corporate strengths, excel in their marketplace, retain top talent and manage business risks.
Highlights
Best Managed Companies see growth opportunities via mergers and acquisitions.
Over the next 12 to 24 months, there will be a significant amount of merger and acquisition (M&A) activities as private companies see growth opportunities in acquiring competitors or complementary businesses. Companies which have weathered the storm and have maintained solid core businesses, and those with realistic valuations and multiples will become attractive return on investments opportunities for private companies.
Best Managed Companies drive innovation across their organizations.
This year's winners understand the ability to innovate is a strategic competitive advantage for their organizations. Whether it's the shop floor, back office or the front-line delivery of products or services, re-engineering operations continues to be on the agendas of Canada's Best Managed Companies.
Best Managed Companies employ detailed and divergent strategies for business south of the border and beyond.
A continuing theme for Canadian private companies is managing their exposure to the U.S. market. Many companies see this as a huge opportunity to capture market share, grow revenue, relocate manufacturing facilities and engage in M&A activities. On the flipside, another emerging theme is Best Managed Companies' desire to reduce their exposure to the U.S., and pursue acquisitions or other collaborative investments such as joint ventures and alliances on a global scale, with growing interest in South America, Europe, China and other parts of Southeast Asia.
Best Managed Companies build close relationships with customers.
Helping their customers weather the last year was a key focus of Best Managed Companies. While many companies focused internally, this year's winners concentrated on their customers' issues and how to solve them as a means of strengthening their own business.
Best Managed Companies plan for succession or business transition.
Succession planning will be a mega trend private companies will experience over the next 10 years. With the aging population, planning for a massive transfer of wealth - including the ownership of a significant number of Canadian private companies - means that preparing strategic succession plans continues to be a theme with this year's recipients.
Best Managed Companies adopt green strategies.
In support of their overall growth, Best Managed Companies increased their adoption of green strategies. Those tied to the energy supply chain saw significant opportunities in serving an expanding global market domestically and internationally. Others investigated how making their organization greener could support cost-reduction initiatives, increase their reputation as good corporate citizens by protecting the environment, and help to attract the socially conscious Gen-Y labor force.
2010 Best Managed winners:
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For further information, visit www.canadas50best.com.
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