Thursday, January 1, 2009

HCL Tech, SKS Micro among world's top emerging cos

Source: Business Week

Two Indian companies – HCL Technologies and SKS Microfinance – have been named among the world's most influential emerging companies along with social networking site Facebook and online community for classified ads Craigslist, according to BusinessWeek magazine.

On the list of the world's most influential companies, the Indian companies have found a place under the segment of five 'Up and Comers', which are the most influential emerging companies.
Meanwhile, the US publication has giants like Apple, JPMorgan Chase and Wal-Mart on the list of the world's ten most influential companies. The list also includes Unilever, News Corp, Toyota Motors, Saudi Aramco, Monsanto, Huawei and Google.

"The companies on this year's list of The World's Most Influential Companies have devised winning strategies and are the ones with game-changing ideas, the greatest impact on consumers, and the bold tactics rivals emulate," the magazine said.

While describing the emerging companies segment, the magazine said many are up-and-coming stars still expanding their global reach, building brand recognition or trying to beat their industry's dominant player.

About HCL Technologies, info-tech services provider, the magazine said that Vineet Nayar, CEO of the firm, has adopted a novel philosophy that the management should be accountable to employees and has put it into practice as well.

On financial services provider SKS Microfinance, the magazine said the firm could have had more impact than Grameen Bank, the organisation founded by Nobel Prize winner Muhammad Yunus.

"SKS has 14,000 employees and 3.5 million customers (1 million = 10 lakh) in India, and is adding 300,000 new customers each month," BusinessWeek said.
The emerging influential companies also include Facebook, which has more than 160 million members. The magazine said as Facebook seeks to expand into international markets, its influence would continue to soar.
The emerging segment also includes supply chain management services firm Li & Fung and Craigslist.
Apple appears on the most influential companies list with annual sales of $24 billion.

"It's the epitome of coola company that has gained a cultlike following because it somehow manages to breathe new life into every category it touches," the magazine quoted.
Consumer products manufacturer Unilever, with annual sales of $52 billion, also appears on the list. The publication further quoted its Chief Executive Patrick Cescau as saying: "It's not about doing good but about tapping new markets."

JPMorgan, which recently acquired Washington Mutual and Bear Stearns, found a place on the list with annual sales of $64.5 billion. The magazine said about CEO Jamie Dimon: "It is a testament to the times that CEO Jamie Dimon has become a towering figure in finance."
Retail giant Wal-Mart, which forayed into India with a joint venture with private telecom firm Bharti Airtel, made it to the list with annual sales of $379 billion. "It became the world's largest retailer by cutting costs to deliver rock-bottom prices," the magazine added.

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