Fortune Magazine has long been making lists of companies who are either liked the most or the least in certain industries. And just recently, they have come up with another list of most admired companies for 2010. Here are some of the companies in the retail industry that were included in the list.
Apple has taken the top spot as this year’s most admired company overall. It is a distinction that is not entirely new for the company. Apple has held on to the number one spot for the third year in a row. One of the main points why Apple has been chosen as the most admired company is because of their products. Apple has launched a number of innovative products that has somehow changed the way people do things. Along with strong consumer loyalty and mutual respect from other businesses, Apple does have a lot of strong points that makes them worthy to get such a distinction.
Internet retailer Amazon gets into the list of most admired companies for the first time by taking the number 5 spot. Its strong points included strong sales and growth despite the recession, its own successful product line with the likes of the Kindle e-book reader as just among other things.
Toyota ranked number 7 on the list and is the third among four companies categorized as belonging to the retailing industry. Its place in the list was due to the company’s strong leadership quality and growth for the year. But then Toyota also has been experiencing certain setbacks due to product recalls which has happened after the surveys that Fortune magazine made have already been collected and listed. If the surveys would have been summarized after instead of before the recall incidents, Toyota Motors may have not made it into the said list.
Wal-Mart, the world’s largest retail store chain takes the 9th spot in the ten most admired companies. It is the last of the four companies in the retail industry that was included in the top ten. One of its strong areas remain in its effective management of a huge number of discount stores all over the world. It also employs millions of people in the retail industry as well as having a similar number of customers who seek low prices especially in a tough economy.