2020 World’s Most Admired Companies: Toyota is Top Automaker
Toyota was ranked as the top automaker in Fortune Magazine’s list of the 2020 World’s Most Admired Companies. It’s the sixth consecutive time that Toyota is honored as the most admired car manufacturer, and the company was just one of two automakers to be featured in the top 100.
Fortune’s annual list is widely regarded as a definitive representation of real-world corporate reputation. The rankings are based on surveys and industry peer ratings from 3,750 industry analysts, directors, and senior executives from around the globe.
Nine attributes go into making up a company’s score, including the quality of its services and products, its global competitiveness, its innovation, its social responsibility, its quality of management and attributes deemed critical to a company’s global success.
Korn Ferry Hay Group, which undertakes the task of ranking the companies for Fortune, started with about 1,500 companies before boiling it down to a top 50 in which most companies would love to belong.
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The very top ranks in the 2020 World’s Most Admired Companies were dominated by computer, internet, and entertainment-centric companies, with Apple ranked 1st ahead of Amazon, Microsoft, and Walt Disney. Toyota was ranked 30th, the same as last year, ahead of BMW in 32nd. The next automaker, Daimler, was a distant 115th, and the highest-ranked American automaker was General Motors in 147th.
According to Fortune, Toyota not only ranked 1st overall among automakers but also 1st in every single one of the nine criteria bar innovation, in which it ranked 4th. Toyota was also ranked 2nd among all companies for quality of products and services, behind only Walt Disney.
“To top Fortune’s list of the most admired auto companies for the sixth year in a row is an exciting accomplishment for all of us here at Toyota, and I continue to be impressed by the talent of our global team,” said Jim Lentz, Toyota Motor North America chief executive officer. “This honor underscores our collective commitment to continuous improvement for our customers, and I can’t wait to see what lies ahead for Toyota.”
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Kurt Verlin was born in France and lives in the United States. Throughout his life he was always told French was the language of romance, but it was English he fell in love with. He likes cats, music, cars, 30 Rock, Formula 1, and pretending to be a race car driver in simulators; but most of all, he just likes to write about it all. See more articles by Kurt.