ITC tops the charts in Fortune’s most admired companies list 2014
Fortune’s most admired list 2014 has been announced and has brought much cheer to the business world. There are 19 new entrants which have made it to the most revered list and obviously there are companies who have slipped from their hitherto slots, making way for others. The list has been prepared with the consultations with the Hay group. The 2014 list has placed ITC at top being followed by engineering and infrastructure major Larsen and Toubro (L&T), another FMCG giant Hindustan Unilever, India’s own carmaker Maruti Suzuki and PSU bank SBI among the top five most admired companies in India. TCS which was last year’s topper has slipped to the sixth position. Sector-wise, the NTPC is at the top amongst power firms, Vodafone India is ahead in telecoms and in healthcare Apollo hospitals are at the helm. These positions are rested on a widespread survey of more than 1,500 companies taking views and responses from the top industry executives, including on the basis of peer group response.
ITC: a short profile
ITC has made its way up to the top for India’s most admired company in the Fortune Magazine’s most admired companies of 2014. ITC being one of India’s biggest private sector which has diversified from Tobacco to acquiring a robust portfolio including FMCG, Hotels, Paperboards &Specialty papers, Packaging, Agri-business and Information Technology. It has a market cap of US $45billion and an annual turnover of US $7 billion. The country has surpassed Tata group’s IT firm TCS to gain the top slot.
Fortune Magazine: a short profile
Fortune magazine published by the Time Group is the most reputed magazine in the business world. It was founded by Henry Luce in 1929 at US. The closest competitors are Forbes and Bloomberg businessweek, so the magazine gains its edge with the detailed and extensive search-backed articles and features. The most distinguished feature of the magazine is the Fortune 500 list of companies across the world. This is basically a well-worked out rating of the best of breed companies in the world based on their revenue. The list has been a regular annual feature since 1955 and is thus much awaited in the business circles worldwide. There are other lists which have been added and now come as inherent feature. They are:
• Best companies to work for
• Fortune 500
• Fortune Global 500
• Fortune India 500
• Fortune most powerful women entrepreneurs