Apple Named The Most Admired Company Of 2019 With CEO Tim Cook Labelled “Overrated”
It may have had a financial stumble of sorts lately, but Apple proves that even despite having the leading products in the industry, customer service still remains at the forefront of the company’s vision.
For the 12th consecutive year, Apple has topped Fortune’s annual ranking of the World’s Most Admired Companies. In doing so, the tech giant beat out other frontrunners like Amazon – the runner-up for a third consecutive year – as well as Warren Buffet’s holding company, Berkshire Hathaway. Rounding out the top five were the Walt Disney Company, and coffee chain Starbucks.
More importantly for Apple’s sake, industry rivals Microsoft, Google and Samsung placed 6th, 7th, and 50th respectively.
“As we have in the past, Fortune collaborated with our partner Korn Ferry on this survey of corporate reputations,” said a statement from Fortune. The rankings were determined by “some 3,750 executives, analysts, directors, and experts” who selected the 10 companies they admired most.
“They chose from a list made up of the companies that ranked in the top 25 per cent in last year’s surveys, plus those that finished in the top 20 per cent of their industry. Anyone could vote for any company in any industry,” said Fortune.
In the findings, Apple topped the list in every category, such as innovation, quality of management, social responsibility, use of corporate assets, financial soundness, quality of products and services, and global competitiveness.
Fortune’s survey of World’s Most Admired Companies is in its 21st year, having measured the reputations of large corporations as seen by their fellow big-company executives for this period of time.
For the past three years, Fortune has also asked survey respondents to weigh in on the reputations of the executives who lead the top companies, and the results were somewhat surprising as people outlined which CEOs aren’t getting enough credit, as well as those who are getting too much. Although 79 respondents called Apple CEO Tim Cook “underrated”, this was eclipsed by the 183 respondents who labelled him “overrated”.
When it comes to the CEO who isn’t getting the credit he deserves, Satya Nadella of Microsoft took out the number one spot for the third year in a row.
Jeff Bezos of Amazon finished second. While 2017 and 2018 surveys yielded similar results, this year’s survey saw Nadella win more than twice as many votes as Bezos. It comes as no surprise that Nadella has seen a remarkable revival at Microsoft, a prescient investment in cloud technology paid off for the company which unseated Apple as the world’s most valuable company by market capitalisation in November – only to be dethroned earlier this month by Amazon.
Clearly though, the survey is subjective with Bezos, Cook and Jamie Dimon of JPMorgan Chase all earning a spot on both the most underrated and overrated CEO lists.
Clearly, when you’re the CEO of a brand that garners as much media attention as it does sales, you’re bound to attract as many haters as you do fans.
Here is the list of the world's 10 Most Admired Companies.
1. Apple – Computers
2. Amazon – Internet services and retailing
3. Berkshire Hathaway – Insurance: property and casualty
4. Walt Disney – Entertainment
5. Starbucks – Food services
6. Microsoft – Computer software
7. Alphabet – Internet services and retailing
8. Netflix – Entertainment
9. JPMorgan Chase – Megabanks
10. FedEx – Delivery