Verizon Communications No. 1 Telecommunications Company in Fortune Magazine’s 2014 List of World’s Most Admired Companies
Verizon Communications has been named as one of the "World's Most Admired Companies" in 2014 according to Fortune magazine, notably among rival mobile carriers.
Fortune ranked Verizon No. 1 among the telecommunications sector in the annual list. It is Verizon's third consecutive year as the top telecommunications company and fourth time within the last five years.
"Verizon prides itself on having an outstanding corporate reputation not only as a leader in mobility, broadband and global connectivity, but as a positive force in the communities it serves," wrote Ray McConville on Verizon's News Center. "The company is committed to using its technology to provide powerful answers to the most challenging issues facing the planet, such as education, energy and healthcare. "
Verizon received the top rank in the "nine key attributes of reputation" categories. The company received a No. 1 rank in long-term investment, people management, quality of management, quality of products/services, and use of corporate assets. Other categories Verizon was ranked on were innovation, social responsibility, financial soundness, and global competitiveness, with the latter receiving a No. 10 rank.
Verizon received an overall score of 6.57. With the overall score, Verizon secured the top spot against rival telecommunication companies but did not reach the top 50 most admired companies. In comparison, AT&T's overall score was 6.22, although it secured the No. 50 position. In the telecommunications industry, AT&T ranked No. 4 despite the better overall score. Telefónica and Telenor ranked better than AT&T, with second and third place, respectively.
The World's Most Admired Company title, regardless of industry, was given to Apple Inc.
"Apple, the most valuable brand on the planet according to Interbrand, brought in $171 billion in revenues in FY2013 and is flush with cash, but fan boys and girls (not to mention the market) are getting antsy to see its next big product," wrote Fortune's Erika Fry. "Bets are on a smartwatch or AppleTV, but the company is also reportedly turning its attention to cars and medical devices."
Apple received a score of 7.94. Although Apple topped the 2014 list, Walt Disney received a better score with 8.41, which ranked at No. 7. Amazon.com and Google ranked second and third, respectively.
Fortune based its "Most Admired Companies" list on surveys responded by executives, directors, and analysts who were asked to rate fellow companies from their respective industry.
The 2014 "World's Most Admired Companies" list and related stories are part of the March 17 issue of Fortune.
For the latest updates, follow Latin Post's Michael Oleaga on Twitter: @EditorMikeO
Subscribe to Latin Post!
Sign up for our free newsletter for the Latest coverage!