What Makes Fortune 500 Companies?
Fortune 500 companies are published in Fortune magazines and counted amongst the most profitable and biggest American companies. The list of top 500 Fortune corporations of the United States are measured by gross revenue of these companies. The companies listed are eligible for almost all the publicly available revenues and are published in Fortune magazine each year.
It basically constitutes of those companies that have largest revenue produced in the preceding year. Fortune makes the calculation of company’s revenues by making use of data that is publicly available but only those companies that have a common stock which is traded on stock exchange are considered to be eligible for being counted in Fortune 500 company lists. The top 500 companies that are included in the list are considered to be Fortune 500 companies.
The companies listed in Fortune 500 Company lists represent a wide variety of industries having broadened their horizons with various alliances from partnership and business entities. American companies are listed in Fortune 500 companies not only for gaining profits but also for personalizing and making their staff feel at home. Other companies might see these measures as additional costs and expenses for the company, but top companies listed take these things as investments that can be keys for taking the company to greater heights.
The companies have their online presence knowing the fact how that it is essential to reach customers and clients by making use of various channels. Fortune 500 companies have clear vision right from the management as to what they are, what they are doing and what they want themselves to be. The vision of these companies are communicated and explained in the best way so that it becomes easier for them to make decisions on daily basis.
In Fortune 500 companies, employees are treated as one of the most essential parts of business. They are treated as a crucial part of business. The organizations have a lot of expectations from employees and are always willing to help employees by making them learned new skills so that there are developmental options available for the company for facilitating the growth.
Unlike other organizations, the employee performance in Fortune 500 companies is monitored and measured in such a way that can encourage the optimal performance of employees. There are set goals for employees in all major areas for giving their best performance and also they are provided with feedback on regular basis to the employees for letting them know about their performance.
Team approach is followed in the fortune 500 companies where the employees are organized in almost all the tasks and made to work in teams. Working of the employees in teams is basically for facilitating the best means to solve problems, build up the morale as well as for creating synergy to achieve organizational and group goals.
Also ethics, quality, effective communication, wellness, customer approach and profit are some of the other features of Fortune 500 companies that can be used by the organization for being listed in Fortune 500 magazine.