Study ranks McDonald’s and Wal-Mart among Top 10 companies for leadership
Philadelphia — McDonald’s and Wal-Mart Stores are among the Top 20 companies in the world for leadership, taking the No. 6 and No. 8 spots respectively, according to an annual study by global management firm Hay Group. The two chains were the only retailers to make the list.
The seventh annual Best Companies for Leadership Study ranks the best companies for leadership around the globe and examines how those firms nurture talent and foster innovation in their ranks. This year, General Electric topped the list, followed by Procter & Gamble, IBM, Microsoft and Coca-Cola (the full list can be found at http://bitly.com/J13EDW).
According to Hay Group, the companies that make the list create workplace environments and processes that enable innovation to thrive. All of the Top 20 companies reported that their leaders regularly celebrate innovation, compared to just 49% of other companies.
In addition, 90% of the Top 20 companies reported that if individuals have an excellent idea, they can bypass the chain of command without the threat of negative consequences, compared to only 63% of other companies. And all of the Top 20 companies (versus 68% of all other companies) say they provide structured opportunities for younger employees to promote innovative ideas
The Best Companies for Leadership recognize innovation is key to their future growth and ability to survive in a fiercely competitive global market,” said Rick Lash, director in Hay Group’s leadership and talent practice and co-leader of study.
The Top 20 Leadership companies consistently outperform their peers, according to Hay. Over a 10 year period, these companies produced a 5.39% shareholder return, compared with a 2.92% shareholder return generated by the S&P 500.
Target to stop selling Amazon’s Kindle line
New York — Target will soon stop selling the Amazon Kindle line of e-readers and tablets.
Target representative Molly Snyder said the company is "phasing out Kindles and Amazon- and Kindle-branded products in the spring of 2012,” in a report on CNNMoney.com.
The retailer has declined to comment on the specific date or the reason that the products will no longer be on its shelves. The chain will continue to sell other e-readers, including the Barnes and Noble’s Nook.
Wal-Mart CEO to be honored with diversity award
Chicago — The Network of Executive Women (NEW) is honoring Michael Duke, president and CEO of Wal-Mart Stores, with its William J. Grize Diversity Hall of Fame Award, on June 28 during Women’s Day at the LPGA in Rogers Ark.
The award, named after the late CEO of Ahold USA, who was an early advocate of industry diversity, is bestowed upon industry leaders who have demonstrated “an enduring commitment to the advancement of women and to creating a diverse and inclusive workplace,” NEW stated.
“Under Mike Duke’s leadership, the world’s largest retail company has promoted talented women to the highest levels,” said NEW president and CEO Joan Toth. “His commitment to gender diversity and inclusion has put a spotlight on the importance and value of developing women leaders and continues to strengthen Walmart’s position in the marketplace.”
Duke will receive the award at Women’s Day at the LPGA, an official event of the Walmart Northwest Arkansas LPGA golf championship.