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Future Readiness Indicator

From Wikipedia - Reading time: 4 min

The Future Readiness Indicator is an indicator developed by the IMD Center for Future Readiness.[1][2][3] It evaluates a company's preparedness for long-term trends.[4] A systematic methodology generates a composite score for each entity, allowing identification of industry leaders and an examination of their respective behaviors and attitudes. It is developed by Howard Yu, and has been covered by Al-Jazeera[5] Bloomberg TV,[6] and CNBC.[7] The Future Readiness Indicator currently covers 182 companies across six different industries. The latest update was released in May 2024.

History

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The Future Readiness Indicator, developed in 2021 (some rankings are backdated to 2010 as analysis only), annually evaluates the adaptability of the largest companies of the world to future challenges.[5][8]

Methodology

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The ranking derives from seven primary, equally-weighted factors: financial indicators, projected growth, business diversification, workforce diversity/ESG, R&D, innovation outcomes, and liquidity/debt status, totaling 33 distinct variables.[9][10]

The data is publicly accessible from company outlets, news sources, and thematic reports. Factiva, CrunchBase, Espacenet, Sustainalytics, and Google Trends also supplement data collection.[9][11]

The indicator is calculated by collecting each company's historical data, performing computations for each variable, standardizing criteria data, aggregating variables into main factors, and assigning an overall ranking.[11] Each company is ranked from 1 (best) to n (worst, n=sample size) on a 1-100 scale.[9]

Rankings

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Automotive

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Company 2024[12] 2023[13] 2022[14] 2021[15] 2020[13] 2019[13] 2018[13] 2017[13] 2016[13] 2015[13] 2014[13] 2013[13] 2012[13] 2011[13] 2010[13]
Tesla 1 1 1 1 1 1 2 3 5 10 6 4 16 11 10
BYD 2 2 5 14 13 15 16 18 18 17 18 17 17 18 18
Volkswagen 3 3 3 6 8 5 13 11 9 7 5 10 9 10 6
Stellantis 4 11 8 12 – – – – – – – – – – –
Hyundai 5 4 4 5 5 12 11 12 14 15 12 14 13 15 15
Ford Motors 6 5 7 4 4 3 3 1 1 2 2 2 3 3 3
General Motors 7 9 11 11 12 11 4 4 3 6 3 3 2 2 1
Kia Motors 8 18 16 16 18 18 18 17 17 18 15 16 12 13 16
Li Auto 9 7 14 – – – – – – – – – – – –
Mercedes-Benz 10 8 9 8 7 6 8 9 4 3 4 8 10 9 8
Toyota 11 10 2 2 3 2 1 2 2 1 1 1 1 1 2

Consumer packaged goods

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Company 2024[12] 2023[16]
L'Oréal 1 3
Coca-Cola 2 1
Procter & Gamble 3 2
Nestlé 4 4
Unilever 5 7
Diageo 6 5
Brown–Forman 7 8
Pernod Ricard 8 9
Colgate-Palmolive 9 –
The Estée Lauder Companies 10 6

Fashion

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Company 2023[17] 2022[18] 2021[18]
Nike 1 1 2
Hermès 2 4 3
Kering 3 3 5
LVMH 4 5 6
Zalando 5 7 –
Richemont 6 6 8
Lululemon 7 2 1
Inditex 8 13 15
Burberry 9 8 4
Prada 10 10 –

Financial services

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Company 2024[12] 2023[19] 2022[20] 2021[21] 2020[19] 2019[19] 2018[19] 2017[19] 2016[19] 2015[19]
Mastercard 1 1 1 1 1 1 1 1 1 1
Visa 2 2 2 2 2 2 2 2 2 2
DBS Bank 3 4 5 6 6 6 5 5 5 9
JPMorgan Chase 4 3 3 13 12 7 7 10 7 7
Bank of America 5 7 7 12 14 9 10 14 12 13
HSBC 6 10 14 22 21 22 19 20 18 22
UBS 7 9 10 15 10 13 12 11 8 5
Coinbase 8 – – – – – – – – –
Zurich Insurance 9 8 13 8 – 8 9 6 9 17
Block, Inc. 10 6 6 – – – – – – –
PayPal 11 5 4 5 4 4 4 4 3 3

Pharmaceutical

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Company 2023[22] 2022[23]
Pfizer 1 2
AstraZeneca 2 3
Eli Lilly and Company 3 7
Novartis 4 5
Roche 5 1
Bristol Myers Squibb 6 4
Novo Nordisk 7 13
Johnson & Johnson 8 8
Merck & Co. 9 9
BioNTech 10 6

Technology

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Company 2023[24] 2022[25] 2021[26]
Microsoft 1 2 3
Nvidia 2 3 6
Meta Platforms 3 6 4
Alphabet 4 1 1
Apple 5 5 9
Salesforce 6 10 10
Adobe, Inc. 7 12 12
AMD 8 8 5
Cisco Systems 9 22 15
Amazon 10 4 2

References

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  1. ^ Cabral, Alvin R. (May 16, 2023). "Tesla ranked top future-proof automotive company". The National.
  2. ^ "Roche et Richemont parmi les compagnies les mieux parées à affronter 2023 selon IMD". L'Agefi.
  3. ^ Montebello, Leah (15 December 2021). "Apple struggles to keep pace with Google and Amazon according to new study on future readiness". City A.M.
  4. ^ Peel, Antonia Garrett. "Four lessons from the world's most 'future-ready' businesses". Management Today.
  5. ^ a b "Tesla most 'future-ready' carmaker, China's BYD rising: Report". Al-Jazeera.
  6. ^ "BYD challenging Tesla's dominance, says IMD's Yu". Bloomberg TV. 2024-03-06. Retrieved 2024-05-28.
  7. ^ "Microsoft a top tech innovator, says IMD". CNBC. 2024-03-06. Retrieved 2024-05-28.
  8. ^ "Chinese carmakers gather steam as innovation thrives, expert says". China Daily.
  9. ^ a b c "Our Research Methodology - IMD business school for management and leadership courses". www.imd.org.
  10. ^ Warner, Kelsey (December 15, 2021). "How future-proof are Apple, Twitter and Spotify? Not very, researchers find". The National.
  11. ^ a b Yu, Howard; Shan, Jialu; Boutalikakis, Angelo; Tempel, Lawrence; Balian, Zuriati (March 21, 2022). "What Makes a Company "Future Ready"?" – via Harvard Business Review.
  12. ^ a b c "IMD Future Readiness Indicator - 2024". www.imd.org.
  13. ^ a b c d e f g h i j k l "IMD Future Readiness Indicator - Automotive 2023". www.imd.org.
  14. ^ "Automotive 2022 - IMD business school for management and leadership courses". www.imd.org.
  15. ^ "Automotive 2021 - IMD business school for management and leadership courses". www.imd.org.
  16. ^ "MD Future Readiness Indicator - Technology 2023". www.imd.org.
  17. ^ "IMD Future Readiness Indicator - Fashion Industry 2023". www.imd.org.
  18. ^ a b "IMD Future Readiness Indicator - Fashion Industry 2022". www.imd.org.
  19. ^ a b c d e f g "IMD Future Readiness Indicator - Financial Services 2023". www.imd.org.
  20. ^ "Finance 2022 - IMD business school for management and leadership courses". www.imd.org.
  21. ^ "Financial services 2021 - IMD business school for management and leadership courses". www.imd.org.
  22. ^ "IMD Future Readiness Indicator - Pharma 2023". www.imd.org.
  23. ^ "IMD Future Readiness Indicator - Pharma 2022". www.imd.org.
  24. ^ "IMD Future Readiness Indicator - Technology 2023". www.imd.org.
  25. ^ "IMD Future Readiness Indicator - Technology 2022". www.imd.org.
  26. ^ Warner, Kelsey (December 15, 2021). "How future-proof are Apple, Twitter and Spotify? Not very, researchers find". The National.
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