The Hay Group and Fortune magazine produced a list of the world’s most admired companies, but how many of their attributes do you share?
It will be no surprise to learn that such companies by far financially outperform others.
Companies were ranked along the following criteria:
- Innovation
- Quality of management
- Long-term investment value
- Social responsibility to the community and the environment
- Ability to attract, develop and retain talented people
- Quality of production and services
- Financial soundness
- Use of corporate assets
- Effectiveness in doing business
The top companies had strong, positive cultures in which strategy happens and is aligned to the goals of both the organisation and the individuals.
The top companies have structures and processes that sustain performance over time and are used to dealing with innovation and constant change.
They recognise that their employees are key drivers of their success and go to great lengths to create the right conditions for people to thrive.
And they of course have great leadership and constantly seek to develop leaders.
How does your business compare?