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.
"Technology is thriving," said Michael H Kelly, the 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 the year with faltering iPhone sales and new competition from rivals in China only to beat Wall Street expectations in the quarter that ended in June.
"While he hasn't been the pioneer in areas like AI, he's very wisely a quick adapter," Jeffrey Sonnenfeld commented on Tim Cook's leadership at Apple. "Employees feel really engaged. They feel really valued."
Other Notable Companies
- Mastercard: Enhanced payment technology through contactless cards and tokenization.
- Johnson & Johnson: Benefitted from high scores in innovation with multiple regulatory filings and product launches.
- Tobacco giant Philip Morris International: Ranked high for its transition from cigarettes to smoke-free products like Zyn patches.
- A Newcomer - Airbnb: Benefitted from strong scores due to events like Olympics in Paris boosting revenue beyond forecasts.
- A Newcomer - Netflix: High scores across categories except employee engagement; changes include plan pricing adjustments and expanded advertising efforts.