Thursday, May 28, 2015

Does Reputation Count?

GREENWASHING

The Reputation Institute's 2015 study of global corporate reputations has been released. The top 10 corporations worldwide (determined on the basis of innovation, governance, citizenship, and other criteria) are:
  1. BMW
  2. Google
  3. Daimler
  4. Rolex
  5. LEGO
  6. Disney
  7. Canon
  8. Apple
  9. Sony
  10. Intel
The U.S. list has three familiar brands on top: Amazon, Kellogg's, and LEGO. Those are followed by Fruit of the Loom, Campbell Soup, Levi Strauss & Co., Snap-on, Hershey, Panera Bread, and Briggs & Stratton.

A Cone Communications/Ebiquity study of consumer attitudes toward corporate social responsibility indicates that 90% would change brands to support a worthy cause. Moreover, 80% would be willing to purchase an unknown brand associated with a strong social responsibility commitment.

Consumers are increasingly wary of greenwashing and willing to change behavior when they believe a company or brand isn't living up to its statements or commitments.

So does reputation count? Clearly, building and maintaining a reputation for authentic social responsibility can pay back in financial terms, not just goodwill.

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