Furniture brand King Living and fashion group True Alliance were named as two of Australia’s best privately managed companies by Deloitte, as part of the firm’s first ever Australian Best Managed Companies awards.
The eight businesses highlighted set the benchmark of strategy, culture and commitment, capabilities and innovation, and governance and financials, according to Deloitte.
“It’s about celebrating the passion, focus, dynamism and growth that Australia’s best private companies are renowned for,” Deloitte private partner and national leader of the best managed companies program Natalie Faull said.
“They are often the disruptors – developing and adopting new technology swiftly, supporting local communities in unique ways, and always looking for growth and success beyond our borders.”
The awards are based on a program that has been running globally since 1993, and is focused on identifying companies that set the highest standards of business performance, as well as shining light on the power of private business.
King Living chief executive Anna Carrabs said a well managed company is one where a leader is able to find the right people and let them shine.
“We’re different because right at the beginning, we look at how people live their lives and what their needs are,” Carrabs previously told Inside Retail.
True Alliance chief executive David Smith said the group had learned much through Deloitte’s best managed companies program.
“It has facilitated some rare self-reflection and allowed us to articulate what it is that makes us a great private business,” Smith said.
“A clear and inclusive strategy backed by robust process and world class systems is what allows us to succeed, but it’s our team that makes us excel.”
Other winners included Actron Air, Alto Group, InfoTrack, Intrepid Travel Group, Motorama Group, and Northern Territory Airports.
Eligible businesses have been in operation for more than three years, have earned revenue greater than $75 million in the most recent year, are headquartered in Australia, and must be a privately owned enterprise.
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