Canon’s Prestigious Accolade by FORTUNE Magazine isn’t so prestigious after all

The “Nine Key Attributes of Reputation” used by FORTUNE Magazine for their ranking

Canon’s press release of yesterday, when they told us the company is among Fortune Magazine’s most admired companies of 2015 turned out to be based on some misunderstanding of the involved figures.

DIY Photography posted a lengthy article where they point out why the “prestigious accolade” Canon put in the title of the press release isn’t so prestigious after all. First and foremost, Canon got it wrong with the nine key attributes Fortune used to rank companies (and so did I for that matter). Canon writes:

Canon received its highest ranks in innovation, social responsibility and long-term investment value.

Well, it’s exactly the opposite. The nine key attributes are listed in the picture on top. A higher number means a lower ranking. Canon didn’t receive the highest ranks for innovation, social responsibility and long-term investment value, but for Quality of products/services, Financial soundness, and Global competitiveness. Oops.

There are more critical issues in DIY Photography’s post. For instance they stress that

[…] the “World’s Most Admired Companies” list is actually the “World’s Most Admired Companies By Other Companies” list. Client satisfaction or feedback from the general public was not calculated into the scores

While I do not agree with all of the reasoning in the original post (it is still a good thing that Canon tops for the quality of their products), I recommend you have a look at DIY Photography to get the entire story.