10 | FORBES INDONESIA AUGUST 2017
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BY JUSTIN DOEBELE
[email protected]W
elcome to this year’s Best of the Best list. This project has become
one of the signature issues for the magazine, including an annual
awards ceremony and gala dinner held later in the year, which
has become the premier event among the many held by Forbes Indonesia ev-
ery year. And for good reason—this list represents the pinnacle of corporate
achievement in the country. It requires real effort and savvy management to
earn a spot on the list. It’s fashionable these days to talk about “sustainable”
success, which is often just a buzzword for anything long-term. One impor-
tant metric for this list is just that—long-term performance. All the companies
on this list have demonstrated that they can produce stellar results over more
than just a year or two. They also can do it across multiple areas.
A company that can do that must be running at peak condition. It’s no
one-hit (or one-year) wonder. Any chief executive can tweak a company’s
operations to skew results toward a desired goal—say, higher sales or big-
ger profits, for one or two years. True corporate leaders know a higher
truth, that they need to build quality in all operations to deliver consis-
tently good figures. In the long-term, these companies will always beat the
other type. They are companies built to out perform.
To be sure, one should also be in an industry that’s also got a future; it’s
hard to be on the Best of Best list making buggy whips. However, there are
plenty of firms on this list that are in so-called “mature” industries. They
are still able to be great companies, proving that there’s still plenty of val-
ue and innovation in any industry.
As an example, the number one company on the list, Indoritel, has dem-
onstrated leadership by creating good synergies, despite general softness in
its focus area of retail. Our long-term winner is Bumi Serpong Damai (BSD),
the first and only firm on the list for six years total. Along with the cover
subject, Ciputra Development, these property firms have stayed on top of
their games by always looking for new ways to reinvent one of the oldest in-
dustries in town—real estate. Ciputra used the slowdown in the industry to
fashion a major restructuring, which gave it extra clout and efficiency. BSD
has a long-term plan to develop its area, and brings out new ideas such as a
concept to create a Silicon Valley-style tech hub within BSD.
All in all, the 50 names on this list represent real diversity, in terms of
industries and size. They show that quality and sustainability can be found
in many places. The secret of success is not much of a secret; it simply
requires a dedication to be the best, in whatever one does and wherever
one is doing it. One has to walk the talk, as the saying goes. Easy to say but
hard to accomplish, for only then can one join the exclusive club known as
the Best of the Best. FSIDELINES
AUGUST 2017 — VOLUME 8 NUMBER 8EDITORIAL DEPARTMENT
CHIEF EDITORIAL ADVISOR Justin Doebele
EDITOR-AT-LARGE Taufik Darusman
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ReganBUSINESS DEPARTMENT
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