Jury Meet: India’s Most Respected Companies
BW Businessworld with IPSOS, carried out a survey to identify the ‘Most Respected Companies' in India
Photo Credit : Ritesh Sharma
India Inc has been thriving in recent years, making its presence felt across the globe. But a company is more than a collection of the products or services it deals in. Top line and bottom line are also impacted by the respect and reputation that a company enjoys. The trust and confidence vested by consumers in a brand can have a direct and weighty impact on the company’s bottom line.
Companies today deal with various questions regarding their very nature, such as, is a company open to new ideas or is it hidebound, clinging only to the tried and tested. Some companies are more interested in the long term value of the company, rather than immediate results. For them, having a good perception about the company in the eyes of the consumers is more important. While such an approach may not be the best scenario as far as profitability is concerned, it helps them keep their heads high as good corporate citizens.
It is such companies that command respect in the 21st century. In an effort to accolade such entities, BW Businessworld, in association with IPSOS, a global market research company, carried out a survey to identify the ‘Most Respected Companies’ in India.
The winners were validated and picked by a distinguished panel of jury including Naina Lal Kidwai, Chairman, Advisory Board Advent India and Past President, FICCI; Karan Singh, Managing Director, Bain and Company India; Shailaja Chandra, Former Secretary to the Government of India and Former Chief Secretary, Delhi;Praveen Bhambani, Leader, Private and Entrepreneurial Services, PwC India and Anurag Batra, Chairman and Editor-in-Chief, BW Businessworld.
The findings of the survey were shared with the esteemed jury. After a gruelling session, the jury unanimously decided on the winners and shared the list with the organising team. BW Businessworld abstained from voting, but participated in the jury meet as non-voting members.
The jury commended the highly systematic and thorough process of evaluation undertaken in the surveys. One of the questions raised by the jury was the validation of the company’s financial position at the back of the envelope and not completely negate the financial aspect when it comes to ‘respect’. The jury was informed and assured that the companies undertaken for the survey are based on Businessworld’s flagship ‘Top 500 Companies survey, which is based purely on financial performance. The team decided to run a second filter on the financial performance to derive fair results.
The jury felt that in recognising the most respected companies, certain parameters ought to be given more weightage which truly defines their credibility. One such parameter was ethics and transparency. It was interesting to note that the jury also gave high importance to parametres such as people practice, talent management and innovativeness, going beyond just the financial performance of the company. Post reaching a consensus on the weightage of the parameters, the rankings were evaluated and the top positions were calibrated.
The jury members deliberated for over three hours at the Le Meridian, New Delhi and evaluated the rankings to cull out India’s most respected companies. The categories for most respected included: BW Global Indian Business Leader, BW Lifetime Achievement, BW Woman Business Leader of the year, BW Policy Reform of the year, and BW Business Leader of the year.