Kilkenny companies Callan Bacon and Taxback.com have been shortlisted to be named among Ireland’s Best Managed Companies.
The companies are through to the second phase of the Best Managed Companies competition, by business advisory firm Deloitte in association with Irish Life Corporate Business. Now in their fifth year, the Best Managed Companies Awards recognise indigenous companies across the island of Ireland that are operating at the highest levels of business performance. The winners will be announced in March.
During this phase, the nominated businesses will have a chance to demonstrate to the judging panel how their organisations are meeting their strategic objectives and adding value to their businesses. The companies will work closely with coaches from Deloitte and Irish Life Corporate Business and will receive customised feedback in the form of business advice and expertise.
“It is extremely positive that we have such strong contenders this year,” said Deloitte partner Kevin Sheehan. “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.”
In August, a survey of the companies recognised as Best Managed Companies to date emphasised that optimism is on the rise among indigenous Irish companies. Nine out of 10 of these companies said they planned to expand their business in the coming year. The annual survey also found that 80% of respondents planned to recruit in 2012 while half aimed to complete M&A activity in the next 12 months.
The judging panel, again chaired by Liam O’Mahony, will be looking at a broad range of criteria when deciding this year’s 20 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 that companies are adopting to ensure their continued success, be it diversification, product development and R&D, overseas expansion or talent management.