Canada’s best managed companies grew export sales by 40%

TORONTO—Canada’s Best Managed Companies built sustainable businesses with double digit growth, outpacing Canada’s forecast three per cent economic growth rate. Those with significant exports grew export sales by more than 40 per cent.

Indeed, Deloitte’s most recent celebration of Canada’s Best Managed Companies program, which recognizes Canadian privately-owned and managed companies for outstanding business performance and innovative management, illustrates the kind of business acumen many companies aspire to.

“Best Managed companies lead the way with a clear vision focused on growth in new markets and product lines to drive profitability,” said John Hughes, Deloitte Canada’s Managing Partner, Growth Enterprises, and National Leader of Canada’s Best Managed Companies program.

“They put the right people with the right skill sets in place, because that’s what drives financial results. Best Managed companies are willing to share insights that can help all private companies grow, and that’s important for Canada as a whole.”

Deloitte says these top companies focus on their people through internal employee relations, investment in skilled talent, partnerships with external sources and strengthening relationships with customers.

They communicate more and recognize individual contributions using key performance indicators to successfully move the business forward.

Many of this year’s winners hired senior people with specific skill sets to accelerate their development and add value and deliver outcomes.

“Achieving the Best Managed designation speaks to strong corporate leadership. In looking at this year’s applicants, what stood out for us with the winners was that they are more dedicated than ever to pursuing profitable growth,” says Dino Medves, senior vice-president, Commercial Banking, CIBC—a long time sponsor of the program.

“In the face of a changing global marketplace, these companies are building efficiencies and driving down costs. By growing aggressively and profitably, they are strategically expanding their operations, while making a significant contribution to the Canadian economy.”

Key areas of focus for Best Managed companies include:

• Profitability

During the recession, many companies cut costs to match expected declines in revenue. As the economic picture improves, Best Managed companies are coming out ahead because they shifted their focus from cost cutting to growth and profitability, focusing on a specific segment or customer base that generated higher averagwe revenue growth and profitability.

• Talent

Best Managed companies engage their people in meaningful conversations. With talent being the most important aspect of success, working conditions, opportunities for growth, training and development, along with self-reflection through non-routine questionnaires have been integral to determining if organizations are doing the right thing to win. E

• M&A drives growth

Deals that involve more risk and are greater in complexity can have a transformational impact as a growth strategy. Many Best Managed companies have taken an M&A mindset to further their market reach, find economies of scale and develop talent pools that can build strategies to reach new markets and customers.

• Closing the productivity gap

Lagging firm-level investment and risk taking in technology and machinery and equipment leaves Canada lagging behind the US and other developed countries. Top companies investmented in enterprise resource planning systems (ERPs) and customer relationship management systems (CRMs) that increased productivity to sell into their customer base and efficiently attract new customers.
Investments made in technology and infrastructure have seen above average returns for greater employee productivity, accelerated growth and development in new products and services that offer a competitive edge.

• Innovation

Continued investments in capital assets and technology help drive innovation to grow profitability. Best Managed companies are expanding operations to capture more complex and multi-national projects with multiple disciplines and partners to create a more compelling profit story.

Here is the list: