NEW YORK—Apple Inc. topped the list for the fourth consecutive year on Fortune’s annual “World’s Most Admired Companies” list.
The purveyors of sleek iPhones, iPads, and Macintosh computers is not only the world’s most valuable technology company by market capitalization, but also sets the bar as to how technology firms are measured.
Apple, year by year, introduces best-selling products in their categories. It consistently beats quarterly earnings estimates, and although its stock has experienced some hiccups due to the uncertainty of its iconic CEO Steve Jobs, fundamentally the company has been stronger than ever.
Internet company Google Inc. came in at No. 2, followed by Warren Buffett’s investment firm Berkshire Hathaway. Discount airline Southwest Airlines Co. and consumer products manufacturer Proctor & Gamble Co. rounded out the top five.
Four of 2010’s top 10 most admired companies were technology firms, underscoring the impact of innovation and technology on business. Besides Apple and Google, Internet retailer Amazon.com was ranked seventh, while software developer Microsoft came in at No. 10.
What Sets Them Apart
Apple’s success has been well documented, and it starts with Jobs, who has the uncanny ability to wow crowds as well as provide superb vision for his firm. Apple’s control over hardware and software, as well as distribution of its products, ensures that its operations are seamless.
Google is mostly a search business and a software developer. Venturing outside of its core search engine, its Android smartphone operating system has taken the industry by storm and is currently the best-selling handheld in the market globally. Its willingness to stand by its corporate culture—evidenced by last year’s bout with the Chinese communist government over Internet censorship—is also admired.
“Amid economic and organizational changes, the world’s most admired companies have created an edge over their peer companies by leveraging the resources and opportunities they have at all levels, not just in the C-Suite,” said Jeff Shiraki, vice president at Hay Group, a management consulting firm which assisted Fortune in compiling the annual rankings.
Traits found in all of the most admired companies are employees who are empowered, innovation in company culture, and a satisfying work-life balance, Hay Group noted.
“These companies are committed to continuous improvement and innovation, even in areas of strength, and are enlisting the creativity of their employees to help stay competitive,” said Shiraki.
And if innovation is indeed key, then Apple and Google have that market cornered.
The purveyors of sleek iPhones, iPads, and Macintosh computers is not only the world’s most valuable technology company by market capitalization, but also sets the bar as to how technology firms are measured.
Apple, year by year, introduces best-selling products in their categories. It consistently beats quarterly earnings estimates, and although its stock has experienced some hiccups due to the uncertainty of its iconic CEO Steve Jobs, fundamentally the company has been stronger than ever.
Internet company Google Inc. came in at No. 2, followed by Warren Buffett’s investment firm Berkshire Hathaway. Discount airline Southwest Airlines Co. and consumer products manufacturer Proctor & Gamble Co. rounded out the top five.
Four of 2010’s top 10 most admired companies were technology firms, underscoring the impact of innovation and technology on business. Besides Apple and Google, Internet retailer Amazon.com was ranked seventh, while software developer Microsoft came in at No. 10.
What Sets Them Apart
Apple’s success has been well documented, and it starts with Jobs, who has the uncanny ability to wow crowds as well as provide superb vision for his firm. Apple’s control over hardware and software, as well as distribution of its products, ensures that its operations are seamless.Google is mostly a search business and a software developer. Venturing outside of its core search engine, its Android smartphone operating system has taken the industry by storm and is currently the best-selling handheld in the market globally. Its willingness to stand by its corporate culture—evidenced by last year’s bout with the Chinese communist government over Internet censorship—is also admired.
“Amid economic and organizational changes, the world’s most admired companies have created an edge over their peer companies by leveraging the resources and opportunities they have at all levels, not just in the C-Suite,” said Jeff Shiraki, vice president at Hay Group, a management consulting firm which assisted Fortune in compiling the annual rankings.
Traits found in all of the most admired companies are employees who are empowered, innovation in company culture, and a satisfying work-life balance, Hay Group noted.
“These companies are committed to continuous improvement and innovation, even in areas of strength, and are enlisting the creativity of their employees to help stay competitive,” said Shiraki.
And if innovation is indeed key, then Apple and Google have that market cornered.
