Fortune Ranks Apple as the World’s Most Admired CompanyWritten by Dorian Cioban / Featured in: Business / 04.03.2013.
The prestigious business magazine Fortune has unveiled a list of The World’s Most Admired Companies where Apple stands strong in defending the title for the sixth year in a row. Google placed second, followed by Amazon, Coca-Cola and Starbucks on the international list. The process of selecting the Top 50 most admired companies was broken down to a list of 1,400 companies with revenue over $10 billion and was based on the following criteria:
- People Management
- Use of Corporate Assets
- Social Responsibility
- Quality of Management
- Financial Soundness
- Long-term Investment
- Quality of Products / Services
- Global Competitiveness
In partnership with Hay Group, Fortune has created a panel composed of 3,800 company directors and executives which votes’ ultimately led to Apple being the number one most admired company. The magazine attributes this result to the Apple’s huge financial gain in the last quarter, bringing in $13 billion in revenue, as well as having an amazing consumer brand loyalty and the refusal to compete on device pricing, making it a matter of prestige.
Compared to Interbrand’s list of Top 100 Global Brands where Google has a brand value less than double of Apple’s, on Fortune’s list it boasts a strong second place the main arguments being a strong revenue from ads, as well as Android’s rising market share. In separate news, Google was also voted by Fortune as number one company to work for earlier last week. Amazon’s third spot is the result of low prices, efficient customer service and rapid growth, where Kindle devices played a major role in shaping the company. Ranked fourth, Coca-Cola is still one of the most popular brands of the world, with over 60 million likes on Facebook and growths in markets all around the world. Up next is Starbucks, with a record revenue of $13.3 billion last year and successful restructuring owed to Howard Schultz.
It is also worth mentioning that the majority of the companies on the list (including Top 10) are from US, while brands such as BMW, Nestlé, Volkswagen, Unilever and Accenture are from Europe and Samsung and Toyota from Asia, respectively.