- In 2024, 67 companies were awarded the “Best Managed Companies” (BMC) recognition by Deloitte Private.
- Representing the entire country, the BMCs are most numerous in Lombardy (25% of the total), Emilia-Romagna (22%), and Veneto and Piedmont (10% each).
- 49% of the BMCs operate in the manufacturing sector.
- 76% of the BMCs anticipate revenue growth in the coming year.
- Nearly 3 out of 5 companies are family-owned; 45% participated in the ELITE-Euronext program; 1 in 10 are publicly listed, and 13% are backed by private equity funds.
Milan, October 9 – Recognizing entrepreneurial excellence on a national level, while creating a structured and long-term growth path. With this ambition, the “Best Managed Companies” Award was born, and this afternoon, the winners of its seventh edition will be celebrated at Palazzo Mezzanotte, the headquarters of Borsa Italiana – Euronext Group. At the event, Deloitte Private, in collaboration with ELITE-Euronext Group, Piccola Industria Confindustria, and with the methodological and strategic support of the ALTIS Graduate School of Sustainable Management at the Università Cattolica del Sacro Cuore, will present the Best Managed Companies Award to 67 Italian companies.
“This seventh edition further demonstrates the presence of outstanding entrepreneurial realities in our country. Through the analysis of the key parameters that characterize the Award, which are crucial for business management, we have awarded 67 companies that represent the excellence of our productive fabric. In addition to a solid base of awarded companies that have already been part of this multi-year growth journey, proving how this award values virtuous business management over time, new high-profile companies have joined. In fact, more than one fifth of the winners are companies that have joined this year, thanks to their solid and ambitious management capabilities”, comments Ernesto Lanzillo, Partner at Deloitte and Leader of Deloitte Private for the Central Mediterranean area (Italy, Greece, and Malta).
Evaluated on the parameters of "Strategy", "Skills and Innovation", "Commitment and Corporate Culture", "Governance and Performance Measurement", "Corporate Social Responsibility", and "Internationalization and Supply Chain", this year's companies were selected by a panel of experts composed of: Marta Testi, CEO of ELITE-Gruppo Euronext; Fabio Antoldi, Full Professor of Business Strategy and Entrepreneurship at the Faculty of Economics and Law at the Università Cattolica del Sacro Cuore; and Renato Goretta, Vice President of Piccola Industria Confindustria.
"The evaluation criteria conceived and adopted by the Deloitte experts and the jury, which led to the recognition of the 67 Italian companies for their managerial skills, are elements that we consider essential for companies operating in a complex environment like the one we are facing today", says Andrea Restelli, Partner at Deloitte and Head of the Best Managed Companies program in Italy.
"In a historical phase where the rise of new technologies is shaping new horizons and business opportunities, organizations must be capable of having leadership that is prepared and attentive to these new trends, as well as the ability of the entire organization to adapt and reshape its structure according to new priorities", adds Restelli.
Identikit of the Best Managed Companies
This year’s 67 Best Managed Companies (BMCs) are geographically distributed with 36% in the North West, 37% in the North East, and 13% each in Central and Southern Italy. The top three regions for entrepreneurial excellence are Lombardy, which hosts 25% of the BMCs, Emilia-Romagna with 22%, and Veneto and Piedmont, where 10% of the companies are based.Half of the BMCs (49%) are from the manufacturing sector, followed at a distance by companies from construction, trade, transportation, and the supply of electricity, gas, steam, and air conditioning (all at 7%). There are also smaller numbers of companies operating in sectors such as healthcare and social assistance (4%), professional, scientific, and technical services, agriculture, forestry and fishing, information and communication services, defense, as well as water supply and waste treatment (all at 1%). 37% of the BMCs employ between 50 and 249 people, while 61% employ more than 250, and 1% have fewer than 49 employees.About three out of five BMCs are family-run, and 45% participated in the ELITE-Euronext Group program. 13% are backed by a Private Equity fund, and one in ten is listed on the stock exchange, with 57% on the EGM market, 28% on STAR, and 14% on EXM. Interviews with the Best Managed Companies reveal that 76% expect their revenue to grow in the coming year, and over one in two companies is highly confident in their success over the next two years.
Evaluation Criteria for the Best Managed Companies
"When analyzing how BMCs perform according to the evaluation parameters of the Award, it emerges that, in order to improve productivity and competitiveness, these companies see innovation and technology as key assets. The process of creating new value and improving competitive positioning cannot ignore the ability of companies to leverage innovation to harness the benefits of ongoing digital transformation. This process can also be a way to gather new ideas and initiate new investments, opening up opportunities for collaborations within the business ecosystem with a variety of stakeholders", says Restelli.
"Operating in an 'extended' competitiveness context, where the boundaries between traditional sectors are increasingly blurred, understanding the digital challenge is critical to keeping pace with high-performing companies and unlocking their full potential. In this regard, BMCs are aware of the importance of investing in training and developing digital skills to make digitalization a part of their company’s DNA. New technologies, such as AI, can provide great value to businesses, but they also require attention to the risks associated with their use, as well as alignment with reference regulations, such as the NIS2 Directive, which will require significant investments in cybersecurity governance and IT security measures", concludes Lanzillo.
Strategy – When asked about the main differentiating factors for their business strategy, BMC leaders highlighted the importance of investing in technology and innovation (79%), fostering a corporate culture at all levels of the organization (75%), and the strong involvement and commitment of their employees (69%). These elements help companies continue to grow and succeed in facing future challenges. The BMCs identify talent acquisition and retention as a top priority (76%), followed by strengthening and developing management (72%) and investing in new products and services (67%). They also highlight as top challenges the strengthening of governance and sustainability strategies and expanding into new international markets (both at 58%).Additionally, in the new competitive landscape, nearly all BMCs (97%) prioritize valuing human resources through reskilling and upskilling, with almost 9 out of 10 (87%) citing the digitalization of business processes and 84% focusing on enhancing employee well-being services.
Skills and Innovation – To improve productivity, BMCs report investing mainly in innovation (87%), technology (84%), and organizational structure (72%). Most companies (78%) have implemented a formal process to continuously encourage and identify new business ideas. Regarding innovative efforts, interviewed leaders say they have directed investments in areas like R&D (84%), operations (75%), and the acquisition or development of advanced technologies (55%). In the next 12 months, BMC leaders are most likely to direct resources into data analytics and business intelligence solutions (87%), business process automation (72%), and CRM systems (67%).
Employee Engagement and Corporate Culture – Corporate culture is a key factor for entrepreneurial success: 82% of those interviewed consider it crucial for achieving business success. Looking at the activities BMCs have undertaken in the past 12 months to engage their employees, the main focus was on organizing functional area training (96%), followed by rewarding systems (81%) and team-building activities (79%). Consistent with this, 9 out of 10 companies focus on developing their employees' skills and making jobs more challenging for top performers with growing responsibilities.Regarding performance evaluation, more than 9 out of 10 BMCs conduct formal performance reviews annually, and two out of five (40%) have surveyed employee satisfaction in the past year. Almost all BMCs offer compensation packages that include variable components and bonuses (94%) and access to a company car (93%). The main strategy for talent retention and attraction is spreading a corporate culture based on open and transparent communication (87%).
Governance and Performance Measurement – BMCs are highly satisfied with their internal financial reporting systems, with nearly seven out of ten rating them as very reliable. The most commonly used method to share management decisions is formal meetings (93%). The main factors threatening company growth in the next 12 months are rising raw material costs (52%), geopolitical uncertainty (47%), and the ability to hire and retain talent (43%).For BMCs, their attitude towards risk is generally considered moderate (49%). In the current environment, having best practices for managing business risk is crucial: 97% aim to maintain a solid balance sheet and build strong relationships with stakeholders to ensure financial stability. 87% focus on effective financial management processes to mitigate risks, and 72% reinvest in Capex or innovation.
Corporate Social Responsibility – For about three out of five BMCs, sustainability is seen as a key element for their organization's success. Furthermore, companies implement formal solutions to measure and communicate their social and environmental impact, particularly through sustainability reports (63%), and 58% include sustainability-related information on their company website. Most companies that do not yet have a non-financial disclosure document (sustainability report, integrated report, or social report) are considering publishing one.Looking ahead to the next five years, BMCs have identified key ESG themes as both risks and opportunities: environmental (E) focuses on energy, social (S) on talent attraction and retention, and governance (G) on integrating sustainability criteria into the supply chain. Regarding sustainability governance, 46% of BMCs have a sustainability plan, and 49% have a sustainability governance structure with a dedicated figure (Sustainability Manager).
Internationalization and Supply Chain – BMCs primarily operate in Italy (53%), and a quarter (25%) serve the European market. About half of the BMCs look to expand their sales and customer base internationally (48%), while a quarter seek new supplier collaborations (25%). For operational location and recruitment, 27% and 22% respectively declare they never use international operations.Analyzing their strategies for entering foreign markets, 74% of BMCs rely on direct export, 44% on direct investment, 36% on indirect export through consortia, trading companies, or importers, and 29% on strategic agreements like joint ventures, licensing, or franchising.About half of the BMCs belong to at least one supply chain (36% to one, 13% to more than one), with 3% evaluating joining others. The largest share is in industrial mechanics (30%), food and agriculture (15%), energy (15%), and furniture and design or pharma (12%). In 85% of cases, the supply chains to which BMCs belong are regulated by quality protocols and certifications, mainly related to product and process quality (85%) and governance and traceability of raw materials (64%).Regardless of their membership in a supply chain, 88% of non-member companies track quality aspects. Over 70% of BMCs collect ESG-related information from suppliers, and more than 80% say that financial institutions focus on ESG topics, particularly social policy, product/process quality, governance protocols, and environmental certifications. BMCs recognize multiple benefits from supply chain membership, such as enhanced competitiveness (78%), accelerated technology transfer (52%), and stronger collaboration with similarly sized companies (51%).
