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29.03.2019

[eNews] In Recognition of the “23 Best Managed Companies” in China

To promote companies setting the highest standards of business practices, the HKUST Business School has joined Deloitte China’s “Best Managed Companies (BMC)” Program as a knowledge strategic partner. Deloitte China and its partners launched the Program in August last year, the first program of its kind in China to identify and recognize private companies based on their management systems.

After six months of rigorous reviews, interviews and specialist research, 23 private companies across different sectors in China were named the first China Best Managed Companies winners. The result was announced at a presentation ceremony cum management forum in Shenzhen on March 21, 2019.

The Deloitte China Whitepaper on China Best Managed Companies (the Whitepaper) was released the same day. The Whitepaper outlines an analysis of the management and operational status of private companies in China.

With support from HKUST Business School, Deloitte China conducted a survey on the enterprise management and operation of private companies across different industries in China. The survey focused on questions about the strategy, capability and commitment of private companies. Based on feedback from interviews, the Whitepaper summarizes management strengths and major pain points of China's private companies. The Whitepaper also publishes a number of expert papers, including an article on “Transformation and Succession: Experiences of Large Mainland China Family Businesses” contributed by Prof Winnie PENG, Associate Director of the Tanoto Center for Asian Family Business and Entrepreneurship Studies at HKUST.  

Prof TAM Kar Yan, Dean of HKUST Business School, was on hand to join the organizer and other program partners to present the inaugural awards to China BMC winners. In a series of presentations and talks at the management forum on the same day, HKUST faculty members played an active role. Associate Dean Prof XU Yan moderated a panel discussion on “Entrepreneurship and Corporate Culture Inheritance”, while Associate Professor ZHENG Rong spoke on “Digital Transformation to Improve Corporate Management Efficiency”.

The Deloitte BMC program is a global initiative that identifies and recognizes private companies with advanced management ideas and excellent business performance. More than 1,000 well-operated, far-sighted private companies have won the award since BMC launched in Canada in 1993. Thus far, the program has been introduced to over 20 countries.


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