The world's most admired companies 2009 - where is Asia?
In a recent March 2009 FORTUNE article, the magazine ranked the world's 50 most admired companies in collaboration with the Hay Group management consulting firm. Stability, strong strategy and structure are key factors - the research found that less admired companies change structures and strategies far more often than the most admired companies.
The research also illustrated that the most admired companies are doing better during times of crisis, and that they are most inclined to expand globally with success despite a challenging environment for marketing programs and brand leadership.
The list of the world's 50 most admired companies from:
1. Apple (US)
2. Berkshire Hathaway (US)
3. Toyota Motor (Japan)
4. Google (US)
5. Johnson & johnson (US)
6. Procter & Gamble (US)
7. FedEx (US)
8. Southwest Airlines (US)
9. General Electric (US)
10. Microsoft (US)
11. Wal-Mart Stores (US)
12. Coca-Cola (US)
13. Walt Disney (US)
14. Wells Fargo (US)
15. Goldman Sachs (US)
16. McDonald's (US)
17. IBM (US)
18. 3M (US)
19. Target (US)
20. J. P Morgan Chase (US)
21. PepsiCo (US)
22. Costco Wholesale (US)
23. Nike (US)
24. Nordstrom (US)
25. Exxon Mobil (US)
26. Bank of America (US)
27. United Parcel Service (US)
28. BMW (Germany)
29. American Express (US)
30. Hewlett-Packard (US)
31. Cisco Systems (US)
32. Honda Motor (Japan)
33. Singapore Airlines (Singapore)
34. Starbucks (US)
35. Caterpillar (US)
36. Intel (US)
37. Marriott International (US)
38. Nestle (Switzerland)
39. Sony (Japan)
40. Boeing (US)
41. Deere (US)
42. Nokia (Finland)
43. Northwestern Mutual (US)
44. Best Buy (US)
45. General Mills (US)
46. Toyota Industries (Japan)
47. Lowe's (US)
48. AT&T (US)
49. Accenture (Bermuda)
50. Samsung Electronics (South Korea)
Source: FORTUNE magazine, March 2009
One overall issue is stricking: Where are the Asian brands? Out of the 50 most admired companies, only 10 origins from outside the US. Asia represents 6 brands out of the 50 most admired brands, namely Honda Motor, Singapore Airlines, Nestle, Sony, Toyota Industries and Samsung Electronics. Those brands are well-established and have been at the forefront and a showcase of what Asia has to offer the world.
But where are the rest? Asian brands need to step up their efforts and take on the global markets. It is time for Asian shareholders and Asian top-management teams to build and sustain strong brands in order to be able to compete more effectively on a global scale.
Brand leadership needs to be elevated to the boardroom level and become a strategic discipline along the lines of all the other important issues in the executive toolbox. Not until then, will the Asian companies be able to compete globally in a more sophisticated way as opposed to the traditional focus on manufacturing and relatively low price.
It is time for Asian companies to get rid of their trading mindset. Asian executives need to enhance their marketing and brand leadership capabilities, and move up the value chain to compete for the future.
The research also illustrated that the most admired companies are doing better during times of crisis, and that they are most inclined to expand globally with success despite a challenging environment for marketing programs and brand leadership.
The list of the world's 50 most admired companies from:
1. Apple (US)
2. Berkshire Hathaway (US)
3. Toyota Motor (Japan)
4. Google (US)
5. Johnson & johnson (US)
6. Procter & Gamble (US)
7. FedEx (US)
8. Southwest Airlines (US)
9. General Electric (US)
10. Microsoft (US)
11. Wal-Mart Stores (US)
12. Coca-Cola (US)
13. Walt Disney (US)
14. Wells Fargo (US)
15. Goldman Sachs (US)
16. McDonald's (US)
17. IBM (US)
18. 3M (US)
19. Target (US)
20. J. P Morgan Chase (US)
21. PepsiCo (US)
22. Costco Wholesale (US)
23. Nike (US)
24. Nordstrom (US)
25. Exxon Mobil (US)
26. Bank of America (US)
27. United Parcel Service (US)
28. BMW (Germany)
29. American Express (US)
30. Hewlett-Packard (US)
31. Cisco Systems (US)
32. Honda Motor (Japan)
33. Singapore Airlines (Singapore)
34. Starbucks (US)
35. Caterpillar (US)
36. Intel (US)
37. Marriott International (US)
38. Nestle (Switzerland)
39. Sony (Japan)
40. Boeing (US)
41. Deere (US)
42. Nokia (Finland)
43. Northwestern Mutual (US)
44. Best Buy (US)
45. General Mills (US)
46. Toyota Industries (Japan)
47. Lowe's (US)
48. AT&T (US)
49. Accenture (Bermuda)
50. Samsung Electronics (South Korea)
Source: FORTUNE magazine, March 2009
One overall issue is stricking: Where are the Asian brands? Out of the 50 most admired companies, only 10 origins from outside the US. Asia represents 6 brands out of the 50 most admired brands, namely Honda Motor, Singapore Airlines, Nestle, Sony, Toyota Industries and Samsung Electronics. Those brands are well-established and have been at the forefront and a showcase of what Asia has to offer the world.
But where are the rest? Asian brands need to step up their efforts and take on the global markets. It is time for Asian shareholders and Asian top-management teams to build and sustain strong brands in order to be able to compete more effectively on a global scale.
Brand leadership needs to be elevated to the boardroom level and become a strategic discipline along the lines of all the other important issues in the executive toolbox. Not until then, will the Asian companies be able to compete globally in a more sophisticated way as opposed to the traditional focus on manufacturing and relatively low price.
It is time for Asian companies to get rid of their trading mindset. Asian executives need to enhance their marketing and brand leadership capabilities, and move up the value chain to compete for the future.
