Fortune magazine announced today that GE is "America's Most Admired Company" for the second consecutive year.
For its March 1, 1999 issue, the prestigious business magazine asked more than 10,000 top executives, outside directors and securities analysts to select which companies they admire most on eight key attributes of reputation: innovativeness, quality of management, employee talent, quality of products/services, long-term investment value, financial soundness, social responsibility and use of corporate assets.
This was the second year that Fortune asked survey participants to select their most admired company regardless of industry, and for the second consecutive year GE was the overwhelming favorite. GE also received the top score for value as a long-term investment, and ranked first in the Electronics, Electrical Equipment industry category.
"This honor is cause for celebration for all GE employees. It recognizes their dedication to serving our customers' needs," said GE Chairman Jack Welch. "By accelerating our efforts to bring Six Sigma benefits to our customers, we can continue to be counted among America's Most Admired Companies."
According to Fortune, "For the second year in a row, General Electric is Fortune's most admired company, winning praise for its value as a long-term investment and, naturally, for the quality of its management under CEO Jack Welch."
This most recent honor for GE comes on the heels of similar awards last fall. In the Oct. 26, 1998 issue of Fortune GE was recognized as the "World's Most Admired Company" in a global survey of business and financial leaders. In its Nov. 30, 1998 edition, The Financial Times named GE the "World's Most Respected Company" and GE's Chairman, Jack Welch, as the "Most Admired CEO."
In another recent survey by the Japan Management Association, GE was voted the best company in the world by Japanese, European and U.S. executives. Time magazine called GE a company of the century and Jack Welch the CEO of the century in its Dec. 7, 1998 Time 100 issue.
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