Corporate Trust: Trust in Business Rises Globally
March 12th, 2010
You would have thought perceptions of business and the financial sector took a hammering during the Global Financial Crisis. But the 2010 Edelman Trust Barometer shows global trust in business is up modestly. However the rebound is fueled by a spike in a handful of Western countries, especially the United States where it jumped 18 points to 54%.
Trust in business remains high in three of the four BRIC countries, with Brazil, India, and China above 60%.The overall rise is tenuous, however, with nearly 70% saying business and financial companies will revert to “business as usual” after the recession, which is not good news for corporate health.
For the first time, this year’s survey shows trust and transparency are as important to corporate reputation as the quality of products and services. The credibility of CEOs showed a notable recovery in many markets, CEOs who treat trust like a line of business have seen their credibility rise.
Reports from industry analysts and articles in business magazines remain the most credible sources of information about a company. However, the credibility of mainstream media, including television, newspapers, and radio, is waning. Trust in government is stable. Technology remains the single most trusted industry sector. Banks, however, are third from the bottom, barely above media companies and insurance.
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