New Delhi: ONGC is one of ‘FORTUNE – World’s Most Admired Companies – 2014’. Fortune- A global business magazine has recently released the list that features only two Indian companies; Besides ONGC, Tata Steel is the other Indian company to feature in the list.
ONGC is the only Indian energy major in Fortune’s Most Admired List 2014 under ‘Mining, Crude Oil Production’ category. What makes the ranking even sweeter is the fact that in the industry vertical, it is ranked 7 worldwide – up 3 places from its previous listing (10).
Interestingly, in the Fortune Global 500 list – which is one of the bases for including companies in the global survey, there are 8 Indian companies out of which only 2 have made it to the elite list. This speaks volumes of ONGC’s reputation worldwide and makes it one of the best companies to work for globally.
The ‘Most Admired’ list is the definitive report card on corporate reputations. Attributes such as ability to attract and retain talent, quality of management, social responsibility to the community and environment, innovativeness, quality of products and service, financial soundness and effectiveness in doing business globally are some of the key inputs taken into consideration to establish the corporate reputation. Approximately 15000 senior executives, outside directors and industry analysts are surveyed and the World’s Most Admired Companies are rated on the above attributes. The overall corporate reputation score is an average of the attribute score.
The survey has been conducted by Hay Group to uncover the business practices that make these companies both highly regarded and successful.