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March 10, 2017

Electrical and Lighting Industry Members Among Canada’s Best Managed for 201Deloitte’s Canada’s Best Managed Companies awards program recognizes Canadian privately-owned and managed companies that demonstrate exceptional business performance.

Each of this year’s winners had an unquestionable expectation of growth that helped drive them beyond the status quo and their peers, says Deloitte. This growth orientation enabled this year’s winners to embrace a courageous mindset and make innovative business decisions that other companies may not, and the success is evident.

“Leading with a courageous mindset is imperative to being a Best Managed company,” says Peter E. Brown, National Co-Leader of Canada’s Best Managed Companies program and Partner at Deloitte. "When faced with tough situations, these companies have the values and the strength to make hard decisions to ensure that their business continues to move forward and succeed.

“Best Managed companies are calculated risk takers and make brave business decisions that contribute to their sustained success, year over year."

Trends common to Best Managed companies that contribute to their success include:

This mindset enables companies to plan constructively for their business and ultimately move them beyond only wishing for growth, and toward developing tangible actions for success.

“While many companies look only to revenue growth as a key marker of success, Best Managed companies take strategic risks to grow in a number of different ways,” says Lorrie King, National Co-Leader of Canada’s Best Managed Companies program and Partner at Deloitte. “It’s this adaptability and approach to business that sets them apart from the status quo.”

According to Deloitte’s recent report The Future Belongs to the Bold, courageous businesses experience greater revenue growth, create more jobs and outperform their peers. However, most Canadian businesses — nearly 90 percent — lack courage. The report also found that fearful businesses were also twice as likely to see their revenues fall compared to their courageous counterparts. Here’s a sampling of this year’s winners.

New winner

Daltco Electric (Kingston, ON) is a first-time winner.

Best managed winners

These companies have re-applied and successfully retained their Best Managed designation for two additional years.

Gold standard winners

After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years.

Platinum Club members

These winners have maintained their Best Managed status for seven years or more.

See the full list of winners: www2.deloitte.com/ca/en/pages/canadas-best-managed-companies/articles/meet-our-winners.html.