CONSHOHOCKEN, Pa., March 29 /PRNewswire/ -- IKEA, the world's leading home furnishing retailer, has been recognized by the Ethisphere Institute as one of the World's Most Ethical Companies for 2010. Out of a record number of nominations for the award, IKEA secured a hard-earned spot on the list by going the extra mile, implementing upright business practices and initiatives that are instrumental to the company's success, benefit the community, and raise the bar for ethical standards within the industry. This is IKEA's fourth consecutive year for this award.
"IKEA is very pleased with being recognized again as one of the world's most ethical companies," said Mike Ward, IKEA U.S. President. "We believe the strength of a company starts with a deep commitment – not only from management – but also from every co-worker who has demonstrated unwavering dedication to the highest standards."
This is the fourth year Ethisphere, a think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, has published the WME rankings, which appear in Ethisphere Magazine's Q1 issue.
Through in-depth research and a multi-step analysis, Ethisphere reviewed thousands of nominations from companies in over 100 countries and 36 industries in order to determine the winners.
A sampling of other winners include Aflac, American Express, Campbell Soup, the Ford Motor Company, General Electric, Google, L'Oreal, Nike, PepsiCo, Starbucks, T-Mobile USA, UPS, Whole Foods Market and Xerox.
"IKEA's promotion of a sound ethical environment shines within its industry and shows a clear understanding that operating under the highest standards for business behavior goes beyond goodwill and "lip-service" and is intimately linked to performance and profitability," said Alex Brigham, Executive Director of the Ethisphere Institute. "This year's World's Most Ethical Companies award was more competitive than ever, because companies realize that making ethics a priority is critical amidst a tough economic environment."
Brigham added, "Compliance or ethics failures add up to more than fees, fines and penalties. The leadership distraction and turnover, forced alteration of a working profit model and heightened scrutiny that result show: good ethics means better business."
The methodology for the WME ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
Read about the methodology and view the complete list of the 2010 World's Most Ethical Companies at http://ethisphere.com/wme-2010.
IKEA places great value on life at home. Since its 1943 founding in Sweden, IKEA has offered home furnishings and accessories of good design and functional living solutions at prices so low that the majority of the people can afford them. Currently there are more than 300 IKEA stores in 37 countries, including 49 in North America (11 in Canada; 37 in the US; 1 in the Dominican Republic). IKEA has six distribution centers in North America, with a manufacturing facility in Danville, VA. IKEA has been named to BusinessWeek's lists of the "20 Best Companies for Leadership" (February 2010) and "The Best Global Brands" (August 2006) as well as Working Mother magazine's annual list of the "100 Best Companies for Working Mothers," for four consecutive years. IKEA was listed on Fast Company's Fast 50, for its environmentally responsible products (March 2007), as well as on Training magazine's annual list of top companies that excel at human capital development, for five consecutive years. Since 2006, IKEA has been recognized by Ethisphere magazine as one of the World's Most Ethical companies. Time magazine cited IKEA as one of the top eight "Companies with a Eco- Conscience" (May 2009). IKEA incorporates environmentally friendly efforts into day-to-day business and continuously supports initiatives that benefit causes such as children and the environment including UNICEF, Save the Children and American Forests. To visit the IKEA Web site and learn more about IKEA sustainability, please go to www.IKEA-usa.com.
About the Ethisphere Institute
The research-based Ethisphere Institute is a leading international think tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti corruption and sustainability. The Institute's associated membership group, the Ethisphere Council, is a forum for business ethics that includes over 200 leading corporations, universities and institutions. The Ethisphere Council is dedicated to the development and advancement of individuals on its membership council through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere magazine, which publishes the globally recognized World's Most Ethical Companies Ranking™, is the quarterly publication of the Institute. More information on the Ethisphere Institute, including ranking projects and membership, can be found at www.ethisphere.com.