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Reliance, HLL make 'IndustryWeek' list

Nitish S Rele

Two Bombay-based companies, Reliance Industries and Hindustan Lever, have made the World's 100 Best-Managed Companies put out by IndustryWeek magazine.

According to the magazine, a "best-managed company" is an organisation that excels not only financially but also sets the standard in innovation, leadership, globalisation, alliances and partnerships, employee benefits and education, and community involvement.

Both firms have won the honour twice in the past.

A primarily petrochemicals and textiles company with Dhirubhai Ambani as chairman, Reliance is India's largest private-sector firm.

Hindustan Lever, led by Keki B Dadiseth, is India's largest fast-moving consumer goods company specialising in home and personal-care products, foods and beverages and specialty chemicals.

"Reliance Industries and Hindustan Lever are outstanding examples of what we look for in our best-managed companies, evidenced by their commitment to all constituencies -- including not just shareholders and customers, but employees and communities, too," Patricia Panchak, executive editor of IndustryWeek, told rediff.com

IndustryWeek selected the 100 best-managed companies from a list of the world's largest publicly held manufacturing companies based on data compiled by Waltham, Massachusetts-based Primark Corp.

Winners from last year along with more than 100 additional finalists were considered for the honour by a panel of judges from different fields.

Each nominee was asked to complete a questionnaire detailing its strongest performance in the areas of people, market development, technology, processes and social responsibility. IndustryWeek editors then selected the final 100 based on the results of a proprietary financial formula, questionnaires, company information and panel votes.

IndustryWeek and its interactive Web site at www.industryweek.com are the premier sources for global manufacturing management best practices -- providing manufacturing executives and decision-makers with more effective ways to lead people, implement technology and manage business processes.

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