Apple has taken the top spot on the Wall Street Journal’s Management Top 250 list for 2024, unseating Microsoft to claim the number one spot. The tech giant was listed as the only all-star company in this year’s rankings, which compared 842 companies across five categories.
The list, created by researchers at Claremont Graduate University’s Drucker Institute, measures companies using principles from management guru Peter Drucker and considers factors such as customer satisfaction, innovation, social responsibility, employee engagement, and financial strength. Companies that score high in these areas are designated ‘all stars,’ while those that struggle are labeled ‘red flags.’
Experts attribute Apple’s success to CEO Tim Cook’s leadership style, which emphasizes collaboration and public championing of consumer privacy. “Tim Cook had none of the internecine warfare that Steve Jobs was known for,” said Jeffrey Sonnenfeld, senior associate dean for leadership studies at Yale School of Management. “Employees feel really engaged and valued.”
Other top performers on the list include Mastercard, Philip Morris International, Johnson & Johnson, Airbnb, and Netflix. Companies like Meta Platforms, Walmart, and Tractor Supply received red flags due to issues with employee engagement.
The rankings come as a surprise given Apple’s struggles in recent years, including faltering iPhone sales and increased competition from rivals in China. However, the company rebounded with strong results from its services unit, which helped provide a cushion for declining iPhone sales.
As companies continue to navigate the impact of technology on their operations, the Management Top 250 list highlights the importance of effective management practices that prioritize innovation, social responsibility, and employee engagement.
Source: https://www.dailymail.co.uk/yourmoney/article-14172373/America-best-run-comapnies-Apple.html