Fortune Magazine has, in collaboration with consulting firm Hay Group, released its 2014 edition of ‘India’s Most Admired Companies’. The prestigious list is topped by FMCG giant ITC, followed by engineering conglomerate Larsen & Toubro (L&T) and Hindustan Unilever.
For the third year in a row, Fortune and Hay Group have in India joined hands to study the extent to which Indian-based firms are admired. The methodology is based on a survey which asks respondents to rank their peers across a scale of ten parameters. These parameters included corporate governance, endurance, impact on society, investment value, product/service quality, innovation, quality of leadership, talent development, employee empowerment and business footprint. This year more than 500 companies across the 15 key sectors were included in the ranking.
An overview of the Top 10 Fortune India’s Most Admired Companies:
ITC differentiated itself mainly through high scores on the parameters corporate governance, endurance, social impact, product quality and employee empowerment. Second-ranked L&T rated highest on leadership, while Hindustan Unilever scored relatively high on among others talent development, product quality and leadership. According to Sridhar Ganesan, Country Head of Hay Group in India, two criteria in particular separated the Top 10 from the rest of the winners: corporate governance and social impact.
It is not the first time that Fortune and Hay Group have partnered to conduct research. The two firms have for a number of years now jointly released the same list on a global scale – known as ‘Fortune World’s Most Admired Companies’.