What you need to know
- Microsoft has been ranked as the top best-managed company in 2023 by researchers at the Drucker Institute.
- Apple and NVIDIA followed closely in second and third place respectively.
- Growth, employee retention, and customer satisfaction were among the main metrics and categories used while ranking.
- Microsoft scored significantly high across most of the categories except customer satisfaction where it came in at 148th place.
We're edging closer to the end of the year, as is the norm. It's usually around this time that we see how sought-after tech firms performed throughout the year in terms of profits plowed back, growth, employee retention, and more.
In September, TIME magazine ranked Microsoft as the best company in the world based on employee satisfaction and other metrics. As it turns out, this isn't the only award Microsoft is bagging this year. According to a spot by The Wall Street Journal, Microsoft has now been ranked as the best-managed company in 2023 by researchers at the Drucker Institute.
Apple came in second place, followed closely by NVIDIA, which isn't entirely surprising. Its revenue for Q3 2023 stands at $18.12 billion, and its profits are $10.42 billion, which makes it the most profitable semiconductor chip brand ahead of Intel and Samsung.
The researchers used various metrics and data when compiling the list, including job satisfaction, supply-chain management, shareholder returns, innovation, and more. Microsoft excelled extremely well across most categories, except customer satisfaction, which came in at 148th place.
While Microsoft's deep-dive into AI after its multi-billion dollar investment in the technology seems to be doing the trick as far as innovation is concerned, the move to "evolve" its Microsoft Rewards program with a cool-down period isn't doing it any favors in the customer satisfaction front.
Microsoft's unbeatable winning streak
This is the fourth year in a row that Microsoft claims the top spot as the best-managed company. While the secret to the company's immense success might remain a secret, Drucker Institute's Executive Director, Michael Kelly, shared the following sentiments:
"Microsoft and other top-performing companies who have sustained themselves at the top of the rankings look to have developed a virtuous cycle that continuously reinforces their successes. This allows these companies to secure the resources and capital needed to innovate and secure talent, which in turn allows them to achieve greater and greater successes."
Over the years, Microsoft's CEO, Satya Nadella, has mentioned the importance of empathy and its role in determining employee satisfaction. He terms it the most challenging skill to learn, yet vital to run any business successfully.
What do you think is Microsoft's secret formula for running a successful business? Share your thoughts in the comments.
