West Michigan companies rank among Fortune's 'Most Admired'
Four West Michigan companies have earned a place in Fortune magazine’s ranking of the “World’s Most Admired Companies.”
Three companies on the east side of the state also made the 2014 ranking.
The survey-based ranking was conducted by Fortune's partner the Hay Group.
“World’s Most Admired Companies” in Michigan
Kellogg, Battle Creek
Steelcase, Grand Rapids
Whirlpool, Benton Harbor
General Motors, Detroit
TRW Automotive Holdings, Livonia
The ranking of the most-admired companies is based on nine criteria: social responsibility, innovation, people management, use of corporate assets, quality of management, global competitiveness, long-term investment, quality of products and services and financial soundness.
Jim Keane, president and CEO of Steelcase, said the company is honored to have made the ranking, among other innovative and respected global organizations.
“To be considered among them as one of the 'Most Admired' really reflects on the creativity and dedication of our employees around the world,” Keane said.
Steelcase’s business principles include positive relationships, protecting the environment, keeping commitments and honesty, according to its website. The company’s extensive portfolio is designed for social, economic and environmental sustainability.
Steelcase has also received several awards recognizing its innovation, such as Gold Awards for the Gesture chair and Regard seating.
Whirlpool maintained its No. 1 position in the ranking's home equipment and furnishings category for the fourth year in a row. The company also appears on the 2013 ranking of the “World’s Most Reputable Companies” by the Reputation Institute.
Whirlpool is founded on “disciplined operating processes and talented employees,” said Whirlpool chairman and CEO Jeff Fettig.
“We're proud to have held strong, positive scores on the list this year, particularly in social responsibility and innovation, and we're committed to continued success in 2014," Fettig said.