Having won Best Managed Company for four years in a row, there was great excitement on Friday evening (March 4th) as the Joe Duffy Group was awarded the prestigious Deloitte Gold Standard Award for Best Managed Company.
The 2016 Best Managed Companies Awards were the 8th Run of the Programme and the 115 companies recognised all presented strong evidence for the resilience that exists in a successful business.
There were a number of common traits noted by the judging panel that came to the fore as defining successful companies, including: Having a developed and active Strategy & Realising & Acting upon their weaknesses & threats.
The Group scored exceptionally high on its strategy and was noted for having an extensive, well-developed strategic plan incorporating market positioning, competitive benchmarking tactics and action steps.
Our detailed focus on aftersales services was also commended. The judges noted that we also have a well developed, coherent and ambitious plan developed to consider current and future markets.
The panel then highlighted our effective use of technology to manage business, track car sales opportunities, survey the current market and communicate with staff. Our ability to build and sustain a customer focused approach, raise capital, manage our finances and optimise the use of technology & research was considered to be a key deciding factor.
The process for rewarding staff/performance management based on process rather than sales achieved was also highlighted. It was noted that we also have an extensive and innovative process for developing top talent and building culture and commitment.
Judges noted that our strategy is clearly communicated and known by the team. The strength of our balance sheet was seen as a big positive and our forecasting processes as well as our daily reporting and monitoring were singled out as strong point.
About Deloitte Best Managed Companies Awards
The Deloitte Best Managed Companies programme, in association with Barclays Bank Ireland, promotes and recognises excellence in Irish owned and managed companies. It is the only awards scheme on the island of Ireland that considers a business’ performance from every perspective. Entrants to the programme compete for this designation in a rigorous and independent process that evaluates the calibre of their management abilities and practices. Programme sponsors include Barclays Bank Ireland, the Irish Management Institute and the Sunday Business Post. The Best Managed Companies Programme originated in Canada in 1993, where it has been run successfully ever since and is the country’s leading business awards programme. In addition to Ireland and Canada, the programme is also run in The Netherlands and Mexico.