Every year, Fortune Magazine comes out with its list of ‘Most Admired Companies’, which features 50 companies in a large variety of categories — from tech to film to banks and more. In order to come up with the list, Fortune asked almost 4,000 executives, directors, and security analysts to pick the top ten companies that they admire most and, from there, they looked at last year’s list and chose 25% of those, as well as those who ranked in the top 20% in their field. A lot of work goes into creating the list, and, once again, Disney has made it into the top 5.
Disney ranked number five out of 5 and, for the 19th year in a row, it was ranked as the most admired media company. Disney released a statement on the exciting honor, saying:
The Walt Disney Company has been recognized among the “World’s Most Admired Companies” on Fortune’s annual list, released online today and in the magazine’s February/March issue. Disney ranked No. 5 overall, and for the 19th consecutive year, retained its position as the top-ranked media and entertainment company.
Disney earned top marks in a significant number of areas, including: innovation; people management; use of corporate assets; social responsibility; quality of management; financial soundness; long-term investment value; quality of products/services; and global competitiveness.
Fortune once again partnered with the global management consulting firm Korn Ferry to identify and rank the “World’s Most Admired Companies” in its annual study. To compile the list, Fortune began with 1,500 companies from across the globe—the 1,000 largest U.S. companies ranked by revenue, along with non-U.S. companies in Fortune’s Global 500 database with revenues of $10 billion or more—and determined the highest-revenue companies in each industry for a total of 640 in 28 different countries. Korn Ferry then surveyed executives, directors and analysts from the top companies, asking them to rate enterprises in their respective industries on nine criteria. Korn Ferry also asked 3,740 executives, directors and securities analysts who had responded to the industry surveys to select the 10 companies they admired most in order to determine Fortune’s 50 “All-Stars.”
Disney has been struggling with its image amongst longtime fans and Guests over the past couple of years — ever since Bob Chapek took over in early 2020. Guests have been complaining about paying more and getting less, the decrease in the quality of the food served at the Parks, and what they see as a lack of innovation within the company. Fans are also increasingly skeptical about the potential success of the new Star Wars: Galactic Starcruiser.
Despite the criticisms, Chapek has maintained a positive attitude and believes that 2022 will be an incredible year for the House of Mouse. And he may not be wrong, with the year starting off with the company receiving high praise and honor from Fortune Magazine. The companies that ranked above Disney on this year’s list were Apple — which ranked number 1 for the 15th year in a row — Amazon, Microsoft, and Pfizer.