Our founder, Werner von Siemens, once said that “an innovation’s importance lies in its practical implementation.” That philosophy still guides us today as we use our technology and expertise to serve our customers and communities around the world.
So it’s particularly rewarding when we see this work and this mission recognized by others. That was certainly the case this week when Fortune magazine released its 2020 World’s Most Admired Companies list. Siemens ranked No. 1 in our category for the fifth consecutive year.
What makes this distinction a little different than some of the other published lists, which may solely identify metrics related to a company’s innovation culture or commitment to diversity, is its broad focus. Fortune seeks to gauge corporate reputation through feedback from those who know the industry best, partnering with consulting firm Korn Ferry to survey top business leaders and analysts. Companies are rated according to a wide range of criteria, from long-term investment value to social responsibility to the quality of products and services. And the aggregate results and rankings have become a trusted measure of how the world’s largest companies are regarded.
For us at Siemens, with 385,000 employees and a global footprint that includes 190 countries, that regard is especially meaningful. The criteria used by Fortune are reflective of our values and goals as a “Business to Society” company. We’re motivated by how we can make an impact, empower people and harness today’s digital transformation for social good. That’s our purpose as a company, and it’s a purpose that we’re thrilled, once again, that our peers in the industry and a respected business publication like Fortune admire.