Mumbai: The General Electric Company (GE) has been named America's most admired company for the fifth year in a row in a survey conducted by the Fortune magazine.
The magazine cites GE's depth of management strength and its consistent performance as reasons for its continuing place atop the list of America's most admired companies. Fortune's most admired seem to perform at their best when the heat is on, consistently delivering to shareholders, customers and employees, Fortune writes in its 4 March edition.
Says GE India president and CEO Scott Bayman: "GE is bound together by its strong business practices, initiatives, culture and values. It's people that are always striving to be their best. This is what makes GE a great company that consistently delivers, in every environment."
To produce the list, 10,000 executives, directors, and securities analysts were asked to rate companies in their own industries based on eight criteria:
Use of corporate assets
Long-term investment value
Quality of management
Quality of products and services.
To come up with the top 10 list respondents selected the 10 companies they admire most in any industry.
Fortune's results mirror the results of surveys of top business executives by the Financial Times, which has named GE the world's most respected company for four straight years. GE is a diversified technology, services and manufacturing company with a commitment to achieving customer success. GE operates in more than 100 countries and employs approximately 310,000 people worldwide.