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(Image source: Apple)
BY MIKAH SARGENT
ANCHOR JASMINE BAILEY
Despite major flaws in its mapping service, management shake-ups, and a free-falling stock
price, Apple still managed to come out on top—admirable, right?
Exactly. Fortune
has named Apple the world’s most admired company for the sixth consecutive year. Here’s
a little more on its decision...
The business savvy mag credits Apple’s admiration
to its $13 billion in net income last quarter, “making it the most profitable company in
the world during that period.” There’s also Apple’s large “fanatical customer
base” and because it doesn’t fall into the price competition its products remain
“iconic” seen as prestigious devices.
So how does a company earn the coveted title?
Apple earned it based on surveys from a jury of its peers—that is, executives of other
companies hailing from more than thirty countries.
HayGroup details the some of the attributes involved
in the selection, including:
• Ability to attract and retain talented people
•
Innovativeness
• Wise use of corporate assets
• Effectiveness in doing business
globally
And another of those required qualities is “financial soundness,” something
with which Apple has struggled. But amid all the hype about Apple’s new title—CNet
reports Fortune’s senior editor says the “most admired” title isn’t all it's
cracked up to be.
“Perhaps the admiration of one’s peers is a lagging indicator, akin
more to a hall-of-fame vote than to a most-valuable-player award. The company whose late founder aimed
for it to be ‘insanely great’ remains plenty damn good. The years to come will determine
if, for Apple, that’s good enough.”
Despite the potential ‘lagging, hall-of-fame’
nature of the title, Apple still managed to pull off both the world’s best selling smartphone—the
iPhone 5—and second best selling smartphone—the 4S. The company was also voted Fortune’s
top spot for most admired in innovation.