Global technology giant Apple has been named as the world's most admired company for the 10th consecutive time. Meanwhile, rival tech manufacturer Samsung has managed to finds its way out of the list of top 50 admired companies in the world.
Global technology giant Apple has been named as the world’s most admired company for the 10th consecutive time. Meanwhile, rival tech manufacturer Samsung has managed to finds its way out of the list of top 50 admired companies in the world. The list compiled by Fortune magazine uses criteria like innovation, social responsibility, management quality, use of corporate assets, long-term investments, product quality, people management and global competitiveness to determine an annual figure. Apple was followed by companies like Amazon, Starbucks, Berkshire Hathaway and Disney. Meanwhile, Google’s parent company dropped from the second position to the 6th and Amazon made an impressive climb from 3rd to 2nd. Samsung lost way too many ranking points here, mainly because of the damage it witnessed due to the Galaxy Note 7 smartphone’s ‘explosion’ debacle.
The list made by Fortune is based on the opinions of 3,800 executives, analysts, directors and experts who voted. Fortune collaborated with its partner Korn Ferry Hay Group to bring out this survey of the reputation of companies. Fortune in its article wrote, “We began with a universe of about 1,500 candidates: the 1,000 largest US companies ranked by revenue, along with non-US companies in Fortune’s Global 500 database that have revenues of USD 10 billion or more.” One thousand of the biggest firms in terms of revenue in the US along with five hundred international businesses with more than $10 billion as revenue were selected to be eligible for being ranked on the Fortune list.
Apple is cruising through in the technology world, with CEO Tim Cook featuring in the TIME 100 most influential people list, late CEO Steve Jobs being an all time inspiration and the current surge in company stocks. With the debacle of Samsung’s Galaxy Note 7, Apple has the perfect opportunity to capitalise on the gains. The other tech companies which feature in the top 10 list were Microsoft and Facebook. Both of the tech giants were tied at the 9th place.