New Baby! Best Managed Leadership
Over the past two years I have worked closely with a client company, Capital Paving Inc., who achieved this prestigious designation in 2010 and re-qualified in 2011. In 2009, an employee team prepared a strong submission that qualified Capital as a Regional Finalist for South-Western Ontario. In 2010 the ownership team decided to fully commit to achieving this valued designation. We identified strategic planning as being a critical first step and then established multiple initiatives to develop the capability of the organization, managers and employees to fulfill this plan. On February 21, 2010, Capital was thrilled to be announced in the Financial Post as one of Canada's Best Managed.
The ripple effects to Capital's business have been profound. The recognition helped the organization in making a major acquisition, has enabled the company to secure preferred financial terms with key suppliers and partners and has supported the owners in achieving various other awards of recognition for their leadership. Employee pride and talent attraction are of course enhanced by the achievement of this award.
I was honored to attend a gala with the owners of Capital and our spouses in March, 2010. In 2011, we prepared a re-qualification submission and were humbled to re-earn this designation. At the 2011 Gala I learned that some organizations have made many efforts over the years to achieve the status of "best managed" but have regrettably fallen short of the rigorous selection criteria. It became clear to me that I am passionate to support other organizations who are committed to this goal.
So What About You?
Have a look at the criteria below and identify whether it's time for your organization to commit to the path of being named as one of Canada's 50 Best Managed Companies!
- Revenues greater than $10M
- Managing finances effectively, adapting to changing market conditions, over the past three years
- Canadian-owned public company or income trust with fewer than 50 percent of their shares or units trade
- Or Canadian-owned closely held* private company meeting certain conditions
This exceptional program is sponsored by Deloitte Canada, CIBC, Queen's School of Business and the National Post. There is a very rigorous process of assessment and selection of the best managed companies in Canada, based on demonstration of various criteria including: financial excellence, capability, strategy and commitment. Phase 1 for 2011 is open now until September 28th for companies interested in applying.
Companies who are successful in qualifying in Phase 1 will be assigned a Coach from Deloitte and CIBC who will help advise on the submission preparation for Phase 2. The timeline is then very tight with approximately one month to prepare an extensive submission in response to specific criteria.
In my experience, in addition to the helpful counsel from Deloitte and CIBC, you will benefit from having a partner to steer your organization through the work that is necessary to demonstrate "best managed" practices. You may find that some of these practices will take more than a few moths to develop and decide to apply for full submission the subsequent year.
I would be honoured to work with you on this journey which creates significant return for your business.