2018, a year filled with Red Hat milestones, compelling customer results, new collaborations, exciting product innovations, engagements with the community and a continued endeavor to spread open source throughout the technological industries. So for the second time in a row, Red Hat has been named by Fortune as one of the Most Admired Companies within the computer software category.
Revolutionizing the software industry, open source continues to be the go-to from the datacenter to the cloud and is the driving force behind the majority of the technological innovation that is occurring today.
Enterprises today, understand the power of open source as the challenges they face have taken on a digital transformation and as the disruption continues, organizations have begun to adapt and thrive by embracing a combination of culture and technology. Red Hat believes that this growing switch to the open approach is the reason they are ranked 8th.
Fortune Most Admired Companies List
Published since 1983, Fortune describes this prestigious list as “the definitive report card on corporate reputations.” In order to compile this list, a partnership was set up between Fortune and the Korn Ferry Hay Group which is a global management consulting group.
For the purpose of compiling this list, Fortune conducts an extensive survey that includes interviewing top executives and directors representing eligible companies, as well as financial analysts so that they can identify those companies that have the strongest reputations not only in their own industries but across industries as well.
This year, 56 industries with 675 of the highest revenue companies were surveyed and ranked. For ranking eligibility 4 factors needed to be considered;
- Revenue size,
- Past performance,
- Willingness to participate in the survey.
Then directors and executives from top-rated companies in the selected group, with industry analysts, were invited to rank the enterprises that were from their own industry. The enterprises were ranked based on the below criteria:
- Effectiveness in doing international business;
- Long-term investment value;
- Financial reliability;
- Management quality;
- Social responsibility to the environment and the community;
- ability to attract and retain talented people.
Red Hat Message
“We’re honored to be included on the list and excited to be listed alongside prestigious companies, many of which are customers and partners. Above all, we are proud of the Red Hatters around the world who are committed and passionate about both Red Hat and the open source community; this recognition is a direct result of their efforts.”
Founded in 1993, in USA, Red Hat is a multinational software company that is dedicated to free and open source software, and occupied in providing their software products to the enterprise community.