TORONTO — A handful of trucking-related businesses have cracked the 2005 Canada’s 50 Best Managed Companies Award list, including two carriers.
Day & Ross Inc. of Hartland N.B. and MacKinnon Transport of Guelph, Ont. have made the list, which is one of the country’s leading business awards programs, recognizing excellence in Canadian-owned and managed companies with revenues over $10 million.
The Tandet Group, which provides distribution solutions, from customized full distribution management to leasing, rentals, maintenance, parts and equipment, also made this year’s lineup.
“Through the 2005 Best Managed winners, we see a new level of confidence among Canadian businesses. There is a recognition that companies will inevitably grow to dominate industries across the globe, and Canada is no longer willing to sit back and wait for the U.S., Asia or Europe to lead the way,” commented John Hughes, Deloitte Partner, and National Leader of the Best Managed program. “These companies realize it’s not just about understanding their own market, but applying best business practices on the global stage. It’s not surprising they aim to become world class organizations.”
The 2005 Best Managed companies achieved some of the strongest financial results since the program’s inception 13 years ago. This year’s winners account for consolidated sales of over $7 billion in 2005, with sales growth of more than 25 percent over the last 2 years. This year’s winners are pursuing a variety of growth strategies, from acquisitions, to strategic alliances and partnerships, to product or service innovation, but international expansion is at the forefront of the majority of winners’ strategies (54%).
“Good businesses do everything right to make a profit, however, Best Managed companies profit as a consequence of doing all the right things. They can’t envisage doing it any other way — that’s the key differentiator,” continued Hughes.
This year’s winners cited developing unique products or services as their key competitive advantage (26%), followed by strong leadership (20%), and employee innovation (14%). Not surprisingly, maintaining their product/service edge over competitors is their key challenge (26%), followed by maintaining good customer relationships as they continue to grow (18%).
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