Trust and Transparency Crucial for a Company’s Reputation

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This year’s edition of the Edelman Trust Barometer reveals that trust and transparency are as important to corporate reputation as the quality of products and services. In the U.S., as in much of Western Europe, these two attributes rank higher than product quality—and far outrank financial returns, which sits at or near the bottom of the 10 key criteria in all regions.

The 2010 Edelman Trust Barometer – a global survey of “opinion leaders” has revealed that trust in business worldwide is up modestly on last year but that the rebound has been fuelled by a spike in merely a handful of Western countries. In the United States trust in business increased by 18 points on 2009 figures to 54 percent. Trust in business remains high in three of the four BRIC countries, with Brazil, India, and China registering over 60 percent. Trust in banks, however, declined dramatically in most Western countries, plummeting 39 points (68 to 29 percent) in the U.S. and 20 points (41 to 21 percent) in the U.K. between 2007 and 2010.

For more information about the 2010 Edelman Trust Barometer, click here.