A study by Reputation Institute, a New York based consultancy and research firm, shows that Danish toy manufacturer Lego is the world's most respected company. Reputation Institute surveyed more than 60,000 people online in 29 countries – participants could only vote for companies based in the country where they live. Of the 600 companies, the mean score was 60 points and Lego gained 85.01.
Charles Fombrun, executive director of Reputation Institute says it is likely that Lego's high standing has to do with a recent turnaround. "In recent years, they [Lego] engineered a turnaround by pruning their lines of business. Now what we are seeing is the result of the turnaround. There's more stability," Fombrun comments.
Professor Majken Schultz at Copenhagen Business School says: "The company has a very strong, emotional capital to eat into. In addition, the management has returned its focus to the idea of construction and has also involved new user groups and fan environments via the internet."
The world's 10 most respected companies are: 1. Lego (Denmark), 2. Ikea (Sweden), 3. Barilla (Italy), 4. Mercadona (Spain), 5. A.P.Moller-Maersk (Denmark), 6. Toyota Motor Corp (Japan), 7. Ferrero (Italy), 8. Petrobras (Brazil), 9. Sberbank of Russia (Russia), 10. Rockwool (Denmark).
The Lego Group is a privately owned company headquartered in Billund, Jutland. It was founded in 1932, and is one of the world's leading manufacturers of recreational materials for children, employing approximately 4,900 people globally. Lego products are sold in more than 130 countries. The news was reported by financial daily newspaper Børsen and by Forbes.