LED display specialist, Absen, has been announced as one of China’s Best Managed Companies as part of Deloitte’s Best Managed Companies (BMC) programme. The company demonstrated excellent business management and was recognised at the gala dinner of the inaugural BMC Awards in China on 21 March 2019.
Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a multinational professional services network. Deloitte is one of the so-called ‘Big Four’ accounting organisations alongside EY, KPMG and PwC, and is the largest professional services network in the world by revenue and number of professionals.
The BMC programme is a global initiative to identify and recognise private companies with advanced management ideas and excellent business performance. Since its launch in Canada in 1993, the programme has been introduced to many countries including Ireland, the Netherlands, Belgium, Turkey, Mexico, Chile and more.
China’s BMC programme was initiated in August 2018 by Deloitte China in cooperation with Bank of Singapore, the Business School of Hong Kong University of Science and Technology, Harvard Business Review and the Federation of Shenzhen Commerce.
Absen was named as one the 23 China’s best managed companies, who were selected from over 80 candidates in different industries around the country for the very first time. Companies including Skyworth, BBK Electronics, Mindray Medical International and New Oriental Education & Technology Group were also on the list.
Commenting on the award, CFO of Absen, Chelsea Huang said: “The BMC Awards examines every facet of an organisation and we are very proud that Absen fulfils all of the requirements. This prestigious award is a fantastic recognition for the overall success of Absen, based on the clear strategic direction and organisational structure, outstanding financial performance, strong risk management ability and inspiring corporate culture. This award will boost our confidence in continuing to improve our business management as well as our products and services.”
A judging panel consisting of over 40 experts from Deloitte and Bank of Singapore conducted a detailed qualification and judging process that evaluates the entire management team and business strategy at a broad range of criteria under the headings of strategy, capability, commitment and financial performance. Absen impressed the panel with “management excellence” and was recognised one of the best-managed companies thanks to its “industry leadership, global thinking, long-term strategy, innovative development” and focus on its staff, after six months of rigorous reviews, interviews and specialist research.
“By launching the first BMC programme in China, Deloitte worked with partners in various sectors to nominate candidates, review candidates’ information, organise Best Managed CEO Lab on-site review and mentorship, and arrange reviews by an independent review committee. The final list of 23 of winners shows management excellence across different sectors,” said Zhao Jian, lead partner of the BMC programme.