Canada's Best Managed Companies embrace courage for continual success

TORONTO, ON--(Marketwired - March 09, 2017) - Today, Deloitte announced the winners of the 2017 Canada's Best Managed Companies awards program recognizing Canadian privately-owned and managed companies that demonstrate exceptional business performance. Each of this year's winners had an unquestionable expectation of growth that helped drive them beyond the status quo and their peers. This growth orientation enabled this year's winners to embrace a courageous mindset and make innovative business decisions that other companies may not, and the success is evident.

According to Deloitte's recent report The Future Belongs to the Bold, courageous businesses experience greater revenue growth, create more jobs and outperform their peers. However, most Canadian businesses -- nearly 90 percent -- lack courage. The report also found that fearful businesses were also twice as likely to see their revenues fall compared to their courageous counterparts.

"Leading with a courageous mindset is imperative to being a Best Managed company," said Peter E. Brown, National Co-Leader of Canada's Best Managed Companies program and Partner at Deloitte. "When faced with tough situations, these companies have the values and the strength to make hard decisions to ensure that their business continues to move forward and succeed."

"As a champion of Canadian businesses of all sizes, CIBC is proud to celebrate and congratulate this year's Best Managed companies," said Jon Hountalas, Executive Vice President, Business Banking, CIBC. "This year's winners excel in leadership, performance and innovation, and their success illustrates the impact that private companies are having on our economy."

Best Managed companies are calculated risk takers and make brave business decisions that contribute to their sustained success, year over year. Trends common to Best Managed companies that contribute to their success include:

• A disproportionate investment in people, with a focus on fostering diversity and inclusion, developing leadership capacities and investing in learning and growth to upskill their workforce;

• Targeted investments in productivity and adaptability including software, equipment, and new processes and developing a culture that embraces change.

Best Managed companies also place a strong emphasis on self-assessment and being realistic about their limitations and potential future challenges. This mindset enables companies to plan constructively for their business and ultimately move them beyond only wishing for growth, and toward developing tangible actions for success.

"While many companies look only to revenue growth as a key marker of success, Best Managed companies take strategic risks to grow in a number of different ways," said Lorrie King, National Co-Leader of Canada's Best Managed Companies program and Partner at Deloitte. "It's this adaptability and approach to business that sets them apart from the status quo."

There were 45 new Best Managed winners in 2017, including:

A complete list of Best Managed winners, Gold Standard winners and Platinum Club winners is available here:
https://www.bestmanagedcompanies.ca/en/meetourwinners/Pages/Home.aspx

About Canada's Best Managed Companies
Canada's Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $15 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada's Best Managed Companies new winner (the new winners are selected each year); 2) Canada's Best Managed Companies winner (award recipients that have re-applied and successfully retained their Best Managed designation); 3) Gold Standard winner (After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for four to six consecutive years); 4) Platinum Club member (Winners that have maintained their Best Managed status for seven years or more). Program sponsors are Deloitte, CIBC, Canadian Business, Smith School of Business and MacKay CEO Forums. For further information, visit www.bestmanagedcompanies.ca.

About Deloitte
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, risk advisory and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.