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Consulting firm Deloitte has launched a business mentoring program for the best managed companies in Hungary for the third time this year. This initiative dates back nearly 30 years, began in Canada, and is now present in several Central and Eastern European countries.
“The purpose of the program is to mentor local privately owned companies that have already reached a certain level of maturity, have a history spanning several years or decades, and have a mature vision and strategy. The application sets a strict set of criteria for participating companies. Applicants must have excellent performance in The areas of financial management, strategy building, human resource management, resource efficiency, innovation, among others have a high level of maturity in their operations and meet the international requirements of the programme.” – he said to the wallet Gabor Kuka, Deloitte Private's senior partner in the Central Europe region.
The programme, which lasts for several months, highlights this during the orientation process
Even companies that appear to be more successful have areas where there is room for improvement in order to operate more competitively.
This year, more than 20 private companies participated in the program, and most applicants joined based on the recommendations of previous participants. During the mentoring programme, companies had to prepare robust application materials covering 16 different areas, from strategy to company culture, organizational processes, finance to innovation.
During the program, an independent and professional jury decided which companies would receive the Best Management rating. The decision is based on the comprehensive application materials compiled during the mentoring program, which follows the methodology of the International Best Managed Companies Programme. The judging panel consists of Gergely Bacsay, Executive Director of MNB, Sara Celaj, Vice President of Academic Development at Budapest University of Economics, Ferenc Rölek, Vice President of MGYOSZ, Richard Vig, CEO of the Budapest Stock Exchange Zrt., and László Wolff, Member of the Board of Directors and Executive Vice President of MGYOSZ. OTP and Zoltan Tothmatias, General Manager.
The program concluded with an awards ceremony on September 26, where the best managed companies were announced. The certificate can be used for one year, companies wish to use it for employer branding and marketing purposes, and awardees are provided with additional professional relationship-building events and opportunities.
Best Managed Companies 2024:
New winners:
- Alphafit
- Dorco
- Goodwill Pharma Limited
- Mugi kft.
- Prime rate Zrt.
- UBM Group
- Újház Zrt.
- Vajda Paper Collection
Returning winners from last year:
- CÉH zRt.
- Dorsum I visited.
- H1 Systems Engineering Services Company Limited
- Hell Energy Hungary Kft.
- Brand Üdítőgyártó Kft.
- Petrani Auto CVT.
- Qualysoft Informatikai Zrt.
- Schiller family of cars
- Simon Plastic KFT.
- Tom Fair I visited.
- Tutti kofta.
- Forosco kft.
- Wagner Solar Hungary Kft.
Every company is looking for opportunities for digital development
One of the added values of the program is that all participating companies receive detailed feedback on their strengths and areas for improvement, so we shed light on their operations with a kind of outside eye, he told Portfolio. Gergely Balint, Executive Director of the programme.
According to the experience of the consulting company's experts, the companies that obtain the certificate share several common characteristics:
- Proper planning, development and communication of strategy within a company is the cornerstone of the best managed companies;
- They have valuable skills and resources, and are highly implementation-oriented;
- They place a strong emphasis on innovation, including the use of artificial intelligence, robotics and automation;
- They build a strong corporate culture and legacy and are constantly developing their people and management team;
- It focuses on sustainability and environmental, social and governance aspects;
- Business continuity risk management;
- They have financial stability, and profits are usually returned to the company, thus promoting growth and increasing the appetite for risk;
Deloitte experts said that recently, it has emerged as a kind of new trend that more and more companies are engaging foreign experts as consultants or in key positions in order to direct international knowledge. Most often, these specialists come from the previous managements of large global companies, but it also happens that they seek advice on business development processes from the founder or former director of the company.
The program will start again in spring 2025, with local privately owned businesses already able to pre-register at the end of this year.
Publication of this article was supported by Deloitte. Application criteria are: a bestmanaged.hu Available on the website.
Cover image source: Deloitte
