Technology companies were ranked among the best-run in the US this year, as companies like Walmart and Tractor Supply were labeled as 'red flag' employers. Apple unseated Microsoft for first place in the Management Top 250 for 2024, while Nvidia came in second, Microsoft ranked third and Intel rounded out the top four, the Wall Street Journal reports.
Management Top 250 rankings compare companies using late management guru Peter Drucker's principles to identify the most well-managed businesses each year. For 2024, 842 companies were graded against five categories -- including customer satisfaction, innovation, social responsibility, employee engagement and development and financial strength.
Those categories are measured based on 35 indicators supplied by third-party data providers, using a statistical model created by researchers at Claremont Graduate University's Drucker Institute. Companies that are in the top 15 percent in each of the categories are designated 'all stars,' while those that score in the bottom 25 percent in any category are designated as 'red flags.' But this year, Apple was listed as the only all-star. That marks the first time the list has only one all star -- usually there are about half a dozen.
"Technology is thriving," said Michael H Kelly, executive director of Drucker Institute. "Companies that know how to best incorporate technology into their organization...are companies that thrive."
For Apple, 2024 marked a rebound after it started off with faltering iPhone sales and new competition from rivals in China only to beat Wall Street expectations by June. It was bolstered by its services unit including App Store revenue and streaming services which cushioned declining iPhone sales. Sales of iPads and MacBooks rose leading to record revenue reported by September.
"While he hasn't been a pioneer in areas like AI," said Jeffrey Sonnenfeld of Yale School of Management regarding CEO Tim Cook's success at Apple.
Sonnenfeld also cited Cook's public championing of consumer privacy and his collaborative style as factors contributing to Apple's excellence in social responsibility and employee engagement.
Other high-performing companies include Mastercard focusing on payment technology security through contactless cards; Johnson & Johnson benefiting from innovation with multiple regulatory filings; Philip Morris International transitioning towards smoke-free products like Zyn patches amid high demand.
This year's list saw newcomers like Airbnb benefitting from strong scores due to events such as Olympics; Netflix scoring high except for employee engagement indicating successful strategy adjustments despite challenges faced across sectors including Meta Platforms criticized over data practices or Walmart's red flag on employee issues following structural changes affecting staff compensation dynamics negatively impacting their rank position overall within industry context highlighted further concerns around healthcare post-pandemic declines evidenced notably through Pfizer sales decrease alongside Eli Lilly supply constraints limiting market performance early period observed concurrently Chevron experiencing lower satisfaction ratings similarly Tesla innovative yet lacking broader category strengths comparatively analyzed results considered comprehensively evaluated dataset findings collectively reviewed detailed manner presented herein compiled summary report format structured 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