The ranking is determined following a survey held among corporate peers – including executives and industry analysts.
“The ‘Most Admired’ list is the definitive report card on corporate reputations,” says Fortune. “We started with about 1400 companies: the Fortune 1000 — the 1000 largest US companies ranked by revenue and non-US companies in Fortune’s Global 500 database with revenue of US$10 billion or more.”
Each company is scored on such attributes as innovation, people management and social responsibility, which would certainly please Phil Schiller. Apple’s senior vice president of worldwide marketing memorably addressed criticisms of the company at last June’s Worldwide Developers’ Conference with the pithy remark, “Can’t innovate anymore, my ass.”
Clearly there are many people actually in the industry, rather than commenting from outside, who believe Apple’s innovation skills are in perfectly good working order.
“The iconic tech company known for the iPhone and other stylish and user-friendly products is back in the top spot on this year’s list, for the seventh year in a row. Apple, the most valuable brand on the planet according to Interbrand, brought in US$171 billion in revenues in FY2013 and is flush with cash, but fan boys and girls (not to mention the market) are getting antsy to see its next big product. Bets are on a smartwatch or AppleTV, but the company is also reportedly turning its attention to cars and medical devices,” writes Erika Fry on the Fortune website.
Apple’s overall score was 7.94, beating second placed Amazon, which managed a 7.09.
Apple did well across the board, taking out the top spot in seven of the nine key attributes of reputation included in the poll. The other two attributes were social responsibility, where it only managed fifth, and global competitiveness, where it was the runner-up to Google.
The top 10 companies in order were Apple, Amazon.com, Google, (US conglomerate) Berkshire Hathaway, Starbucks, Coca-Cola, Walt Disney, FedEx, Southwest Airlines and General Electric.