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Journalism of Courage
When he chose the phrase 8220;only the paranoid survive8221; for the title of his autobiography, Intel chairman Andy Grove was referring to the frenzied pace of the new economy, a place where dramatic innovations can transform an entire industry in less time than it takes Tiger Woods to break par. Even companies that successfully juggle the competing demands of customers, employees, and shareholders can suddenly find themselves on the brink of obsolescence, their products and services supplanted by the Next Big Thing. Those who reach the top of Fortune8217;s annual list of the world8217;s most Admired Companies adhere to Grove8217;s dictum. And the key to staying ahead of the pack is constant innovation.
Last February, Fortune published a list of America8217;s Most Admired Companies. This list goes a step further, evaluating companies in 27 industries all over the world. To compile the rankings, executives and analysts grade companies according to nine attributes: quality of management; quality of products and services; innovativeness; longterm investment value; financial soundness; ability to attract, develop, and retain talent; community responsibility; use of corporate assets; and global business acumen. Companies are ranked within their industry, and the top 25 8212; the All-Starts 8212; are culled from across all industry groups.
Many of the industry categories also experienced significant turnover. Among airline companies, last year Singapore Airlines didn8217;t even make the list perhaps because it was too small. This year it took the top spot from Southwest, British Airways, hobbled by internal conflict and heightened competition, fell from third to seventh8230;.
Excerpted from The world8217;s most admired companies8217;, Fortune8217;, October 9
