How you can make Newsweek’s Excellence 1000 Index®
The best-of-the-best corporations have learned their success depends on more than product quality and profit margins. They have moved past the belief that profit is the only purpose of business. Their commitment to fairness, corporate social responsibility, and uncompromised ethics sets them apart as leaders in the business world.
Corporate excellence adds value and revenue while doing the right thing. The following explores the key performance indicators of corporate excellence. And you can learn how to make Newsweek’s Excellence 1000 Index®.
The Excellence 1000 Index® marks a sea change.
Paul Polman, former CEO at Unilever, told the Financial Times that positive business results will follow “if I focus on doing the right thing for the long term to improve the lives of consumers and customers.” Writing for HBR, Dominic Barton said it was time to “rewire” the governance of corporations, “changing how we view business’s value and its role in society.” And Michael McFall, writing for Forbes, advised companies “to create holistic value with lasting impact.”
Companies that serve public interests and encourage innovation will drive and sustain the customer experience. This sea change in how we view business deserves recognition.
The best corporations pursue excellence.
Many businesses need help to outgrow outdated principles and practices. But world-class organizations have moved decisively and thoroughly to doing the “right” thing. Their pursuit of excellence respects ethics and moral values, building a business model that adds value and revenue.
- Investors and stakeholders profit from these best business practices. When profit determines goals and behavior, ethics and values will suffer. However, customer markets will reward quality behavior.
- The future of work needs skills and capabilities to reach stretch goals. Because talent follows excellence, a certified reputation will recruit and keep top-shelf performers.
- The presence of talent aligned with ethical goals and moral values drives a culture of excellence. It respects resources, encourages innovation, and adds shared value.
We have enjoyed our deep work in recognizing corporations committed to excellence across all aspects of business—including financial health, stakeholder satisfaction, and social responsibility.
How to measure corporate excellence –
The Best Practice Institute (BPI) has partnered with the global reach of Newsweek publications to celebrate the model practices of ethical corporations. This dynamic partnership created a platform for recognition and respect through the Excellence 1000 Index®. Newsweek will publish this index online on November 15, 2023, and in print this winter.
BPI has used its unique and proprietary research tools to analyze thousands of data points across over 25 industries and 100-plus categories. The results created an index ranking outstanding corporate dedication to serving customers, stakeholders, and communities with financial growth, social responsibility, and sustainability.
The analysis measured pivotal criteria, including:
- ESG Risk Rating & Ethical Impact: BPI methodologies dive deep into a company’s data for evidence of environmental, social, and governance risks. Analytics combines these findings with its ethical footprint.
- Customer Rating: Collected data shows how a corporation’s customers view its products, services, and ethics.
- Employee Rating: Employers use various tools to measure employee satisfaction, engagement, and sentiment.
- R&D Spending: Investment in innovation builds investor, employee, and market confidence.
- ISO Standards Adherence: Compliance with international quality and safety standards requires outstanding practices and performance.
- Global Compact Status: The United Nations principles on human rights, labor, environment, and anti-corruption offer performance models.
- Customer Complaints: The volume and heat of customer grievances sheds light on a corporation’s commitment to respond, respect, resolve, and improve.
- BBB Rating & Accreditation: The best smaller businesses seek Better Business Bureau A+ ratings.
Ranking the best of the best –
Best Practice Institute (BPI) identified 5,200 companies out of 25,000-plus organizations that uphold excellence in their best business practices. The BPI team evaluated financial indicators like revenue streams, R&D spending, and website traffic. They explored customer satisfaction and employee sentiment. And they weighed each company’s dedication to social accountability and global stewardship.
Newsweek’s Excellence 1000 Index® reveals interesting factors across various industries.
- Healthcare and IT Services stand out. Each group represents 6% of the listed companies, highlighting their substantial impact on and significant representation in current markets.
- Focus on the top 100 companies ranked finds that the Internet of Things (IoT) accounts for 13% of the leaders.
- The average revenue across the 1000 businesses indexed is 39.8 billion dollars, which shows their significant economic footprint.
- 27% of companies listed actively take part in the United Nations Global Compact and
- 33% have an A+ BBB rating.
“Doing good business means more than just turning a profit. In our fast-paced economy, it’s easy to lose sight of the value of companies that strive to be good for customers, employees, and society at large,” said Nancy Cooper, Global Editor-in-Chief at Newsweek.
“The Newsweek 1000 Excellence Index® takes a 360-degree look at companies. It assesses what their employees say about them, how customers view their products, and how well the business runs regarding safety, sustainability, diversity, and innovation. Our goal is to provide our readers with an informed view of the firms living up to the highest standards.”
You, too, can make the 1000 Excellence Index®.
The Best Practice Institute and Newsweek partnership does more than identify and praise exemplary corporations. It calls on all enterprise leaders to elevate their standards, prioritize ethical practices, and place stakeholders at the center of their business universe.
“Celebrating ethical corporations is essential in an age where corporate scandals and unethical practices dominate headlines. These corporations serve as beacons of hope, reminding us that running a successful business does not have to come at the expense of ethical integrity,” said Louis Carter, CEO of Best Practice Institute.
“They serve as role models for other companies, inspiring them to adopt similar practices and promoting a sense of accountability in the corporate world. By celebrating these ethical corporations, we encourage others to follow and work towards a more just and sustainable business landscape.”
When organizations aspire to reach high, it is a cause for celebration and recognition. Best Practice Institute is proud to be the driving force behind the Newsweek 1000 Excellence Index®, recognizing companies that make good choices across all business pillars.
To those corporations that believe they exemplify these values and wish to be part of the Newsweek 1000 Excellence Index® or Best Practice Certified Index®, ensure your company has a spot by visiting http://excellence.bestpracticeinstitute.org.
For over twenty years, the Best Practice Institute has assessed and identified companies that stand out through social responsibility, ethics, and exemplary business behavior. The path to commercial success can be clear of compromises.
With such initiatives, corporations that choose the higher road will no longer remain unsung heroes. They will deserve celebration and emulation. They will redefine what “business as usual” truly means.