The Fortune 500, 2008 list is ‘out’, albeit with a generous dose of bad news. And ‘going global’ remains the ultimate ‘winning’ strategy
Even if we consider the credit crisis that hit
one and (almost) all in corporate America during 2007, even if we consider the consumer spending control measures adopted by consumers in America during 2007, even if we consider the correction of financial markets the world over, even if… Well, we could go on and on with the anguishes of woebegone America Inc. but one thing holds – holding onto the Fortune top spot for 6 years (out of the past 7) isn’t easy. “Easy” would rather be a weak expression when we refer to the top 500 US corporations (in terms of revenues), supposedly masters in the money-making business.
The Fortune 500 list for 2008 is out and it’s Wal-Mart again, which rules with $378.80 billion in revenues. It however wasn’t the most profitable (no.8 with $12.73 billion in net profits); the pole position in this regard being held by Exxon Mobil, which scored a scintillating $40.61 billion in profits – the highest ever by a corporation in the history of mankind!
The bottom line is hitting rock bottom, though. Despite witnessing an annual rise of 7.1% in revenues to touch $10.6 trillion during 2007, the gang of 500 could not create the best of real bucks with total net profits falling by an alarming 17.8% to $645.22 billion. There is also a misfortune list of 31 corporations displaced from the hallowed list for the current year; low topline growth being blamed for the unfortunate outcome. Of course, this being said, there was also the usual list of those who returned a greater bang for the buck and a few surprises like 422nd-ranked Mosaic Co. (in which Cargill has a 35% stake), which returned an eye-popping 341.7% returns to shareholder equity during 2007, on revenues of $5.77 billion – the highest ever by any company in a matter of a year; the figure being over double of the second best return!
Even if we consider the credit crisis that hit
one and (almost) all in corporate America during 2007, even if we consider the consumer spending control measures adopted by consumers in America during 2007, even if we consider the correction of financial markets the world over, even if… Well, we could go on and on with the anguishes of woebegone America Inc. but one thing holds – holding onto the Fortune top spot for 6 years (out of the past 7) isn’t easy. “Easy” would rather be a weak expression when we refer to the top 500 US corporations (in terms of revenues), supposedly masters in the money-making business.The Fortune 500 list for 2008 is out and it’s Wal-Mart again, which rules with $378.80 billion in revenues. It however wasn’t the most profitable (no.8 with $12.73 billion in net profits); the pole position in this regard being held by Exxon Mobil, which scored a scintillating $40.61 billion in profits – the highest ever by a corporation in the history of mankind!
The bottom line is hitting rock bottom, though. Despite witnessing an annual rise of 7.1% in revenues to touch $10.6 trillion during 2007, the gang of 500 could not create the best of real bucks with total net profits falling by an alarming 17.8% to $645.22 billion. There is also a misfortune list of 31 corporations displaced from the hallowed list for the current year; low topline growth being blamed for the unfortunate outcome. Of course, this being said, there was also the usual list of those who returned a greater bang for the buck and a few surprises like 422nd-ranked Mosaic Co. (in which Cargill has a 35% stake), which returned an eye-popping 341.7% returns to shareholder equity during 2007, on revenues of $5.77 billion – the highest ever by any company in a matter of a year; the figure being over double of the second best return!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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4 comments:
great article
iipm provide great global exposure to its students
iipm GOTA programme rockz
iipm course content is truly global
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