Dive Brief:
- For the second year in a row, Archer Daniels Midland ranked No. 1 in the food production category in Fortune’s World’s Most Admired Companies (WMACs). Ingredion, captured the No. 2 spot. The 2016 list was announced last week, where a small percentage of the companies hailed from the food and beverage sector. The ranking is comprised of 340 companies from 54 industries.
- The companies were ranked according to nine attributes which position them above other companies in their respective categories. The attributes include attraction and retention of quality talent, quality of management, social responsibility to the community and the environment, innovation, and effectiveness in doing business globally, among others.
- According to the Hay Group, a division of Korn Ferry, which conducted the survey with Fortune, candidates eligible for the WMACs came from the Fortune 1000 and Global 500 rankings, as well as other major non-U.S. companies.
Dive Insight:
The authors surveyed 815 senior executives from the companies participating in the annual WMACs and found one of their hallmarks was "strong performance and reputations amid changing business conditions." WMACs are among the top 50 overall "all stars" or ranked among the top three in their respective industries, such as ADM is in the food products category.
The survey found the companies’ successes are the result of a focus on the long-term, and balancing immediate needs with future business needs. New approaches to the changing nature of work were important to those surveyed, with 78% rating it as critical or very important.
The WMACs also stated the most important leadership capabilities for 2025 will be agility, authenticity, emotional intelligence, embracing diversity, a global mindset, and working collaboratively with people from other companies.
With its recent purchase of Harvest Innovations, ADM advances its strategic plan to expand from an ingredient supplier to a complete solution provider. Last year, the company announced it would purchase Eatem Foods Co., a developer and producer of premium traditional, natural, and organic savory flavor systems.
