The Most Progressive Firms in 2023
Yearly, Boston Consulting Group (BCG) releases their Most Progressive Firms rating. Primarily based on a survey of over 1,000 innovation executives polled in Dec. 2022 and Jan. 2023, BCG assessed an organization’s efficiency on 4 dimensions:
- World mindshare: the variety of votes obtained from all world innovation executives
- Trade peer view: the variety of votes obtained from executives in an organization’s personal trade
- Trade disruption: the Variety Index (Herfindahl-Hirschman) of votes throughout industries
- Worth creation: complete shareholder return, together with share buybacks, over the 3-year interval from Jan. 2020 by way of Dec. 2022.
We’ve supplied a extra visible illustration of those ends in the graphic above.
Information and Highlights
The 2023 rating will be discovered within the desk beneath.
For the fourth straight yr, Apple is taken into account essentially the most modern firm on this planet. In truth, Apple has held this title yearly since 2005 except for 2019.
| Rank | Firm | Trade | Change in Rank (+ or -) |
|---|---|---|---|
| 1 | 🇺🇸 Apple | Expertise | – |
| 2 | 🇺🇸 Tesla | Transportation & vitality | +3 |
| 3 | 🇺🇸 Amazon | Expertise | – |
| 4 | 🇺🇸 Alphabet | Expertise | – |
| 5 | 🇺🇸 Microsoft | Expertise | -3 |
| 6 | 🇺🇸 Moderna | Healthcare | +1 |
| 7 | 🇰🇷 Samsung | Expertise | -1 |
| 8 | 🇨🇳 Huawei | Expertise | – |
| 9 | 🇨🇳 BYD Firm | Transportation & vitality | Returned |
| 10 | 🇩🇪 Siemens | Expertise | +10 |
| 11 | 🇺🇸 Pfizer | Healthcare | +7 |
| 12 | 🇺🇸 Johnson & Johnson | Healthcare | +15 |
| 13 | 🇺🇸 SpaceX | Transportation & vitality | Returned |
| 14 | 🇺🇸 Nvidia | Expertise | +1 |
| 15 | 🇺🇸 ExxonMobil | Transportation & vitality | Returned |
| 16 | 🇺🇸 Meta | Expertise | -5 |
| 17 | 🇺🇸 Nike | Client items & providers | -5 |
| 18 | 🇺🇸 IBM | Expertise | -8 |
| 19 | 🇺🇸 3M | Client items & providers | +18 |
| 20 | 🇮🇳 Tata Group | Transportation & vitality | Returned |
| 21 | 🇨🇭 Roche | Healthcare | Returned |
| 22 | 🇺🇸 Oracle | Expertise | -3 |
| 23 | 🇩🇪 BioNTech | Healthcare | New |
| 24 | 🇬🇧 Shell | Transportation & vitality | Returned |
| 25 | 🇫🇷 Schneider Electrical | Transportation & vitality | New |
| 26 | 🇺🇸 P&G | Client items & providers | +8 |
| 27 | 🇨🇭 Nestlé | Client items & providers | +22 |
| 28 | 🇺🇸 Normal Electrical | Transportation & vitality | +1 |
| 29 | 🇨🇳 Xiaomi | Expertise | +2 |
| 30 | 🇺🇸 Honeywell | Transportation & vitality | New |
| 31 | 🇯🇵 Sony | Expertise | -22 |
| 32 | 🇨🇳 Sinopec | Transportation & vitality | New |
| 33 | 🇯🇵 Hitachi | Transportation & vitality | +6 |
| 34 | 🇺🇸 McDonald’s | Client items & providers | Returned |
| 35 | 🇺🇸 Merck | Healthcare | Returned |
| 36 | 🇨🇳 ByteDance | Expertise | – |
| 37 | 🇩🇪 Bosch | Transportation & vitality | -11 |
| 38 | 🇺🇸 Dell | Expertise | -24 |
| 39 | 🇨🇭 Glencore | Transportation & vitality | New |
| 40 | 🇺🇸 Stripe | Expertise | New |
| 41 | 🇸🇦 Saudi Aramco | Transportation & vitality | New |
| 42 | 🇺🇸 Coca-Cola | Client items & providers | -6 |
| 43 | 🇩🇪 Mercedes-Benz Group | Transportation & vitality | Returned |
| 44 | 🇨🇳 Alibaba | Expertise | -22 |
| 45 | 🇺🇸 Walmart | Client items & providers | -32 |
| 46 | 🇨🇳 PetroChina | Transportation & vitality | New |
| 47 | 🇯🇵 NTT | Telecommunications | New |
| 48 | 🇨🇳 Lenovo | Expertise | -24 |
| 49 | 🇩🇪 BMW | Transportation & vitality | Returned |
| 50 | 🇬🇧 Unilever | Client items & providers | – |
BCG added extra context on a number of corporations in its report, together with Germany’s Bosch (thirty seventh). Based on BCG, the engineering and expertise firm has a worldwide R&D group of 84,800 staff throughout 130 areas. Bosch has additionally maintained R&D spending (as a share of gross sales) at between 7.6% and eight.2% from 2018 by way of 2021.
One other spotlight was Samsung (seventh), which spent over $17 billion (9% of annual gross sales) on R&D in 2021, making the South Korean conglomerate one of many world’s largest spenders on innovation. Samsung was additionally granted 6,300 U.S. patents in 2022, essentially the most out of any firm.
As this rating exhibits, modern corporations aren’t simply tech corporations. McDonald’s (thirty fourth) is taken into account by BCG because the “restaurant trade frontrunner in expertise innovation and funding”.
For instance, McDonald’s just lately acquired Apprente, a startup that develops voice-based applied sciences, and Dynamic Yield, a agency specializing in creating customizable on-line experiences. McDonald’s goals to leverage these applied sciences to enhance ordering instances and provide prospects higher decisions.
Firms by Nationality
Now let’s look at the rating by way of a special lens—nationality. The next chart compares the nation breakdowns of the 2013 and 2023 rankings.
The U.S. and China are the one two international locations which have elevated their share from 2013, pushing out corporations from European international locations like Germany, the UK, and Italy. We are able to additionally see vital declines in Japanese and South Korean illustration.
Given China’s financial progress, it’s probably that Chinese language corporations will proceed to signify extra of BCG’s rating sooner or later. Up to now, the nation’s strongest innovator is Huawei (eighth), which has made the highest 50 listing yearly since 2014, when it debuted at fiftieth place.
