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One standard that corporations use to evaluate their performance against their competitors is the set of rankings developed by Fortune magazine. These include the Fortune 500, the 100 Best Companies to Work For, and other lists. The public also uses these rankings to decide to what companies they should give their business.

Respond to the following in a minimum of 175 words:

  • Is it a good idea for people to use these rankings to decide which companies they should give their business to?
  • Is there an intrinsic value in these rankings, or are they subjective?
  • Should a business set a specific ranking on a list like this as a standard to be met?

Support your assertions.


Theresa
Freeman

Respond to the following in a minimum of 100 words:

Hello Professor and Class,

I believe that the Fortune magazine rankings are subjective to maybe a few things. Some jobs aren’t for everyone, and even though one ranking seems great, it might not be the same fit for next person. I could see the appeal for certain people to want to shop at a place that treats their employees better than other companies. In reality though we want the best products and services. A great example is Chick-fil-A having great customer service, and they treat their employees decent. Most people go for the chicken sandwich’s and not the people alone. I would say that this should be a standard for companies to meet. If you are put on the list as a business it would be a greater marketing strategy that is free. It could bring more customers in with very little cost to the company. So in my views some companies may treat their employees great, but it still might not be the best for company for others. I think that it is a good example of the type business you might want to give your business to, but in the it will be the service to customers that will win in the end. I think the list is a great example of standards that can be met.


Tarrek
Smith

Respond to the following in a minimum of 100 words:

I believe in the process of evaluation in comparison to the competition that produce the same products or services ONLY. This is a comparison that needs to take place for continued growth, to access the pit falls and to fix such issues that lead to competition creeping into more of the market share.

The rankings developed by Fortune 500 is a great measure that definitely should be weighed upon as an organization is in the control process. These rankings give a live and up to date picture of the current state of the organizations position and idea of where down trends are forming.

I do not believe that these rankings are to be what major decisions need to based only upon. There is a subjective element to a ranking system that uses tactics and inputs to create an output (said rankings).

There is intrinsic value to these rankings and can be seen as specific goals within and organization. For example these rankings might provide a Director of Sales the information needed to support and manage the corrective actions needed to gain a larger portion of the Market Share in the industry. These rankings can also have another intrinsic value, as they show the confidence the public might have on your organization. For example if an organization sees a decrease in the rankings shortly after launching a new product or service this could be an indication that the roll out or implication might need to be looked at and or adjusted to meet better results.