Apple, Google and Procter & Gamble are the leaders of most admired companies top according the to a new report released by Fortune and the Hay Group. To come up with the list, first the business magazine and their partner assessed 1400 large corporations from around the globe and identified an initial pool of 673 firms from 57 different sectors. They then asked over 4000 senior executives and analysts to explore the companies on their list and choose the ten they respected and admired the most.
Apple was the big winner of this thorough analysis and this is not the first, as it is the fourth year in a row when the computer and gadgets maker claims the leading position. They were most respected due to their fast pace of new product development and release, taking them in the past nine years from one popular gadget and culminating with the iPad launch in 2010.
Although we all love to hate Google and call the search giant evil, we also admire and respect their business model. Google ranked second, the admiration of business minds being fueled by the impressive sales of Android-powered mobile phones and tabs, the always growing trend YouTube is on and the rising prices of their ads.
Berkshire Hathaway, founded by Warren Buffett, was ranked third, outranking air carrier Southwest Airlines, a company recognized for their leading role in handling ecology and sustainability issues.
Procter & Gamble, in spite of the ‘ugly rash from diapers’ story, landed the fifth position in the top due to their eco-friendly initiatives. The giant decided to use only renewable energy and make all of its packaging from recycled materials. Other reasons for commanding esteem from fellow businessmen was their educational programs and the more environmentally friendly line of new products.
Coca-Cola, Amazon, FedEx, Microsof and McDonal’s completed the top ten of Fortune’s most admired companies. Most of the companies included in the survey opperate in the USA, 238 to be exact, while only 21 came from Germany, followed by Japan with 15 corporations an the United Kingdom with 11.
“Fortune suggested a “new competitive order” may be starting to assert itself, as overall leadership changed hands in 22 of the 57 segments monitored, the highest total ever.”
Why are these companies the big winners? Hay Group’s research pointed out some defining aspects – most of these companies (94%) allow their employees to take “reasonable risks” while performing their jobs when aiming to improve effectiveness. In the case of all companies initially analyzed the percentage is about 20 points lower. The most admired corporations are also integrating emerging technology and creative strategies in their business processes.