Toyota is Fortune Magazine’s Most Admired Automaker
Toyota has been named by Fortune as one of the “World’s Most Admired Companies,” ranking first among all automotive companies for the fourth year running. The magazine also recognized Toyota for being one of the top 50 “All-Star” companies—it ranked 29th overall, up five places from last year.
To determine the world’s most admired companies, Fortune collaborated with Korn Ferry to survey nearly 1,500 candidates: the 1,000 largest US companies, ranked by revenue, and the top non-US companies featured in the Fortune Global 500 database that have a revenue of $10 billion or more.
The list was then narrowed down to the 680 highest-revenue companies across 29 countries and 52 industries, after which executives, directors and analysts rated enterprises in their own industries based on nine criteria, including quality of management, quality of products, social responsibility, investment value, and ability to attract talent. This helped identify each industry’s top companies and only those ranked in the top half of the survey could be listed.
Admire This: Toyota’s no-cost maintenance plan
From there, all executives, directors, and analysts—about 3,900 individuals in total—were asked to identify the 10 companies they admired the most regardless of industry. These had to be companies that finished in the top 20% of their industry and that ranked in the top 25% of last year’s survey.
Clearly, the process was thorough and perhaps even needlessly complicated. However, it makes one thing certain: there is no doubt that Toyota is not just the most admired automakers but also one of the most admired and respected companies in the world.
“Toyota is honored to be listed among the world’s most admired companies once again, and to be recognized as the most admired auto company in the world for the fourth year in a row,” said Jim Lentz, CEO of Toyota Motor North America (TMNA). “This ranking acknowledges the many successes of our global team who are committed to advancing sustainable, next-generation mobility for our customers.”
News Source: Fortune