The Foundation for Excellence in Business Practice was created by a group of entrepreneurs, consultants and academics whose professional life continually brings them face to face with the issue of what excellence means in business. Clearly it encompasses profitability, but that is far from an adequate measure, purpose or strategy. Our Foundation strives to create a clearer understanding internationally and to recognise and reward companies and organisation setting examples of excellence.

Excellence in Business Practice has many dimensions. Our foundation sets them firmly in the context of a free market economy, in which the great majority of goods and services are provided by private and publicly-held companies operating in competition. It extends to public and mixed services, especially in areas where competitive supply cannot function normally.

The profit motive is totally legitimate. Through it people strive to generate wealth, which in turn is spread through society. Yet it can be but a short step from the profit motive to excessive greed and to exploitation. Competition is the most important element in ensuring fairness. Regulation is also indispensable, but too revere regulations are negative; “outside imposition” should be minimised. Our Foundation is committed to the concept that excellence must come from within business itself.

Our firm fully endorses the mission and the Charter of the Foundation for Excellence in Business Practice. Indeed, it would be difficult to exaggerate the importance for the future of society and of the free-market system of the need for excellence in the practice of corporate governance and risk management, transparency of reporting, establishment and implementation of internal standards, and rights of all kinds.

These are all themes our firm is working on at an international level, sharing the Foundation's belief that business excellence is far better generated from within than imposed from the outside. That is why we stress principles over rules, and adaptability within those principles rather than monolithic regulation. From our efforts advising clients throughout the world we have learned that the quality and sustainability of businesses does not depend on legislation alone.

We have learned that business involves more than making a profit. As the Foundation's Charter spells out, true excellence has many dimensions and must be encouraged across them all.

We look forward to the opportunity of working with the Board and Staff of the Foundation in the fulfilment of its objectives.

The Articles of Foundation are registered with the Geneva Registry of Commerce and include the following article defining the Foundation's objectives

 
OBJECTIVE :

The objective of the Foundation is to encourage excellence in business practice throughout the world.
Excellence in business practice includes, but is not limited to, the following concepts
• transparency and accuracy in financial reporting
• adoption of international standards for financial reporting
• the governance of corporations
• protection of the rights of minority and outside shareholders
• the role of corporations in society in general.

The foundation will seek to fulfil its objective by:

a) publishing articles defining excellence in the practice of business;
b) encouraging and recognising excellence in business practice by the giving of appropriate awards;
c) establishing institutional links with other entities sharing the same objective or aspects of it;
d) organising conferences and seminars to discuss these issues.
   
The Foundation benefits from an Advisory Board made up of representatives of industry, academia and non-governmental organisations.

Companies invited to sign the Charter of the Foundation are selected according to several criteria, of which the most important are:

• The financial performance of the company

• The dynamics of its development financial ratios including:

- Sales and value added per employee
- Quality of goods or services as received by the market
- Attractiveness for investment or credit from the financial community
- Strategy and practice of communication

• The public personality of senior executives

The data are collated from 'Dun and Bradstreet' published reports, the media, financial analysts' reports, the Internet and Chamber of Commerce and Commercial Representations throughout the world. All information is interpreted on a function of the goods or services provided.