Stanley Black & Decker (President Jim Loree), the world’s largest tool company, has been named to Fortune magazine’s 2020 list of the ‘World’s Most Admired Companies’ in the Home Equipment/Furnishing category.
Stanley Black & Decker announced that on January 21 (U.S. time) it ranked first in the Home Equipment/Furnishing category of the ‘World’s Most Admired Companies’ list selected by the American business magazine Fortune, with an overall score of 7.25 points. With this, the company has maintained its ranking in the home interior/furniture category for seven consecutive years since 2014.
Fortune’s ‘World’s Most Admired Companies’ ranking is determined through a survey of thousands of business executives, who evaluate corporate value across nine categories: △innovation △people management △use of corporate assets △social responsibility △quality of management △financial soundness △long-term investment value △quality of products and services △global competitiveness.
Stanley Black & Decker not only received consistently high marks overall across the nine categories, but earned the highest score in particular in the quality of products and services category, claiming first place with 7.25 points.
As the world’s largest tool specialist, Stanley Black & Decker holds more than 70 brands across five major areas: industrial/automotive tools, construction/household tools, infrastructure/equipment devices, healthcare, and security systems. In Korea, through Stanley Black & Decker Korea, the company distributes and sells ‘Black & Decker,’ a leading brand of household tools and lifestyle appliances; ‘DeWalt,’ a high-performance professional power tool brand; and ‘Stanley,’ a specialized tool brand handling both power tools and hand tools.
In addition, by officially acquiring IRWIN and LENOX—hand tool and accessory brands from Newell, a global consumer goods & industrial products manufacturer—the company has built a stronger brand portfolio based on synergy effects with its existing brands, further strengthening its position in the global tool industry.
Meanwhile, since 1997, Fortune has partnered each year with the global management consulting firm Korn Ferry Hay Group to select a total of 680 companies across 30 countries, ranked by profitability within each industry, based on the top 1,000 U.S. companies and the Fortune Global 500 database of companies with revenues of $10 billion or more. This year, a survey on global corporate reputation was conducted among more than 3,770 executives, senior managers, and analysts across 52 industries.