1 Reply Latest reply: Mar 18, 2009 1:15 PM by tjcnewyork RSS

Fortune recognizes Marriott as Most Admired

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This week, Fortune magazine published its revamped list of the fifty most admired companies in the world. Apple led the pack.  Marriott was listed as number 37, the only DC area company to make the list and the only lodging/hospitality organization. In other words, in its field, Marriott is number one!

 

Here is the methodology used to compile the list:

 

  • The new Most Admired list is the definitive report card on corporate reputations. Our survey partners at Hay Group started with some 1,400 companies: the Fortune 1,000-the 1,000 largest U.S. companies ranked by revenue; non-U.S. companies in Fortune's Global 500 database with revenues of $10 billion or more; and the top foreign companies operating in the U.S.

    They then sorted the companies by industry and selected the 15 largest for each international industry and the ten largest for each U.S. industry. To create the 64 industry lists, Hay Group asked executives, directors, and analysts to rate companies in their own industry on nine criteria, from investment value to social responsibility. This year only the best are listed: A company's score must rank in the top half of its industry survey.

    To create the top 50 overall list of Most Admired Companies, Hay Group asked 4,047 executives, directors, and securities analysts who had responded to the industry surveys to select the ten companies they admired most. They chose from a list made up of the companies that ranked in the top 25% in last year's surveys, plus those that finished in the top 20% of their industry. Anyone could vote for any company in any industry. The difference in the voting rolls is why some results can seem anomalous-for example, Toyota is one of the top ten Most Admired Companies, but only second in its industry to BMW, which ranked 28th on the top 50.

    A total of 689 companies from 28 countries were surveyed. Because of an insufficient response rate, the results for companies in Mortgage Services and in Oil and Gas Equipment, Services are not reported. In addition, in the Forest and Paper Products industry only the aggregate scores and ranks are published because of the distribution of responses in that industry.

 

    In a year of exceedingly tough decisions, with declining revenues, Marriott is still shining.  I know that the corporation is making a sincere effort to weather these tough times. Perhaps you've already seen Bill Marriott's blog this week in which he announces, among other things, that he's taking only a fraction of his annual compensation.  What a rare and refreshing thing, but I for one have come to expect this from Marriott.

(For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Fortune recognizes Marriott as Most Admired
    tjcnewyork Platinum
    Currently Being Moderated

    The Fortune article, the ranking methodology and Bill Marriott's blogging got me so distracted I forgot to reply!  Great post.

     

    I agree that Bill Marriott's decision regarding his own compensation says alot about him and his organization.  At the same time, it's imperative that the organization enforce new policies, align the CEO's position and rethink redemption levels so as to respond to 2009 conditions. 

     

    In his November 2008 blog celebrating the 25th Anniversary of Marriott Rewards,  Bill Marriott writes,

     

    "For the most part, the feedback from our members has been very positive, but from some, it has not been. I have read your comments on the Marriott Rewards Insiders community and your letters, too. It's a balancing act anytime we make a change, but I believe these changes will benefit the majority of members."

     

    As many have noted, great suggestions appear to have fallen on deaf ears. It's great that Bill Marriott makes the headlines for reducing his compensation.  I'd like to see Marriott make the headlines for reducing the points required to redeem nights by 5,000 to 25,000 points depending upon the category as a goodwill gesture to 30 million Marriott Rewards members worldwide.  I'd like to see the Fortune, Wall Street Journal, the Washington Post and The New York Times write about that!  

     

    Responsive forward-thinking solutions driven by the customer helped to propel Marriott and Marriott Rewards to the forefront.  Do it again, Marriott.  Why not celebrate 25 years of Marriott Rewards with special redemption levels that will stimulate business and leisure travel, keep your people employed and give loyal Rewards members a break?   

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

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