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L’ORÉAL ENTERS FORTUNE MAGAZINE'S MOST ADMIRED COMPANIES LIST
For the first time, L’Oréal enters Fortune’s annual All-Star list of the world’s 50 Most Admired Companies.
Every March, Fortune Magazine publishes its annual ranking of the world’s Most Admired Companies. The list is based on a yearly survey of 10,000 executives from the largest international corporations. Entering at 23rd place in 2003, L’Oréal joined this 50-member, “elite” group for the first time.
L’Oréal Places Fourth Among European Companies
L’Oréal just missed the cut in 2002 when the company placed 52nd but made it to the All Stars this year along with nine other first-timers. According to Fortune, “Newcomers to the All-Star list...were rewarded for delivering solid products and financial results.” L’Oréal took fourth place among European companies. In total, fourteen non-American firms were named to the Top 50 in 2003.
Like last year, L’Oréal ranked second in its industry category, Household & Personal Products, and obtained first place among French companies.
Overall, Wal-Mart came in first, followed by General Electric. Microsoft maintained its 2002 position at number three.
Human Resources and Strategy: The Right Choices
The rankings were compiled by the Hay Group, a management consulting firm that has conducted the annual Most Admired Companies study for Fortune since 1997.
A follow-up study of the firms named to the list over the past six years shows that these companies “tend to focus more on selecting, developing and rewarding talent”. As well, “they encourage teamwork and cooperation, especially within the executive team”. Most especially, these are firms that “refuse to compromise long-term their long-term s objectives for short-term demands”.
Commenting on the 2003 winners, Fortune Magazine said, “Tough times reveal character. The best companies look good, even when the living is anything but easy.”
Ranked By All Contenders…and By Industry Peers
To be included this year, companies were required to have made sales of 8 billion dollars or over during 2001. More than 10,000 directors, executives and managers from the 345 qualifying firms were asked to select the top ten companies in 29 different industry sectors.
The companies most often chosen across all sectors were named to the top 50 All-Star list. Each respondent was then asked to rank the other companies in his or her industry sector according to nine criteria: quality of management; quality of products and services; innovation; long-term investment; stock value; capacity to attract, keep and nurture talent; corporate social and environmental responsibility; corporate culture; and global strategy. The averages of those scores were used to compile rankings by industry and country.
For the first time, L’Oréal enters Fortune’s annual All-Star list of the world’s 50 Most Admired Companies.
Every March, Fortune Magazine publishes its annual ranking of the world’s Most Admired Companies. The list is based on a yearly survey of 10,000 executives from the largest international corporations. Entering at 23rd place in 2003, L’Oréal joined this 50-member, “elite” group for the first time.
L’Oréal Places Fourth Among European Companies
L’Oréal just missed the cut in 2002 when the company placed 52nd but made it to the All Stars this year along with nine other first-timers. According to Fortune, “Newcomers to the All-Star list...were rewarded for delivering solid products and financial results.” L’Oréal took fourth place among European companies. In total, fourteen non-American firms were named to the Top 50 in 2003.
Like last year, L’Oréal ranked second in its industry category, Household & Personal Products, and obtained first place among French companies.
Overall, Wal-Mart came in first, followed by General Electric. Microsoft maintained its 2002 position at number three.
Human Resources and Strategy: The Right Choices
The rankings were compiled by the Hay Group, a management consulting firm that has conducted the annual Most Admired Companies study for Fortune since 1997.
A follow-up study of the firms named to the list over the past six years shows that these companies “tend to focus more on selecting, developing and rewarding talent”. As well, “they encourage teamwork and cooperation, especially within the executive team”. Most especially, these are firms that “refuse to compromise long-term their long-term s objectives for short-term demands”.
Commenting on the 2003 winners, Fortune Magazine said, “Tough times reveal character. The best companies look good, even when the living is anything but easy.”
Ranked By All Contenders…and By Industry Peers
To be included this year, companies were required to have made sales of 8 billion dollars or over during 2001. More than 10,000 directors, executives and managers from the 345 qualifying firms were asked to select the top ten companies in 29 different industry sectors.
The companies most often chosen across all sectors were named to the top 50 All-Star list. Each respondent was then asked to rank the other companies in his or her industry sector according to nine criteria: quality of management; quality of products and services; innovation; long-term investment; stock value; capacity to attract, keep and nurture talent; corporate social and environmental responsibility; corporate culture; and global strategy. The averages of those scores were used to compile rankings by industry and country.