97% Of Business Leaders Believe Damaged Corporate Reputations Can Be Restored - Though It May Take up to Four Years.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 16, 2003 New Study Reveals Surprising Expectation Level In Corporate America's Ability to Regain Public Trust An overwhelming majority of business influencers remain confident that companies can restore a damaged reputation, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. new research by global communications consultancy Burson-Marsteller Burson-Marsteller is one of the largest public relations agencies in the world. It is unit of Young & Rubicam, which is owned by WPP Group PLC.[1] It was formed by Harold Burson and Bill Marsteler in 1954. . The 2003 Building CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Capital study reveals that 97 percent of business influencers believe a company can recover from a tarnished reputation over time. The study shows a surprising level of optimism in corporate America's ability to regain the public trust, as numerous companies work to rebuild their reputations. While confidence in restoring reputations is good news, the time needed to turn around a company's reputation is not. On average, business influencers surveyed believe it takes nearly four years (3.65 years) for a company to rebuild a blemished blem·ish tr.v. blem·ished, blem·ish·ing, blem·ish·es To mar or impair by a flaw. n. An imperfection that mars or impairs; a flaw or defect. reputation. Yet when asked how long it takes for new CEOs to turn a company around, business influencers allow less than two years (22 months). "CEOs are already under considerable pressure to perform quickly under immense public scrutiny," said Dr. Leslie Leslie (Gaelic, derived from a surname meaning 'garden of hollies,'grey fortress, or'garden by the pool')[1] can refer to any of the following: Places in Scotland:
Contraction of will not. won't will not won't will be able to reap the benefits of their reputation-building efforts while in office." Of all the influencers surveyed, only the business media took exception to the four-year finding, believing that it takes companies slightly less than three years (2.96 years) to rebuild their reputations. Financial analysts and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. hold companies to a higher standard, expecting it to take most companies nearly four years (3.86 years) to rebuild and restore their reputations. Other business influencers surveyed include CEOs, business executives, government officials and board members. The study also shows that the direct relationship between CEO performance and a company's reputation continues to grow - despite the dramatic rise and fall of major corporations and their chief executives. "In these days of uncertainty and economic hardship, our research reveals that CEO reputations matter more than ever. CEOs are now being called upon to make far more difficult decisions and they remain the public face and ethical compass of the organization," noted Christopher Komisarjevsky, president and CEO, Burson-Marsteller worldwide. When Burson-Marsteller first conducted its CEO reputation research in 1997, business influencers estimated that 40 percent of a company's overall reputation was attributable to its CEO. This figure has grown steadily since then, increasing to 45 percent in 1999, 48 percent in 2001 and 50 percent in 2003. The findings are the first set of results released from Burson-Marsteller's 2003 Building CEO Capital survey. Additional results will be released later this fall on additional topics, including the combination of skills and qualities future CEOs will need to lead successful companies, the surprising number of CEOs who consider quitting their jobs, and whether or not the role of CEO and chairman should be held by one person or by two separate individuals. About Building CEO Capital The 2003 Building CEO Capital study is Burson-Marsteller's fourth consecutive survey of influential business stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. since 1997 and was conducted with RoperASW. The study of 1,040 CEOs, executives, financial analysts, institutional investors, business media, government officials and board members examines issues relating directly to CEO and corporate reputation. Building CEO Capital has a margin of error of plus or minus 3 percent. For more information, please visit www.ceogo.com, Burson-Marsteller's Web site dedicated to CEO research and information. About Burson-Marsteller Burson-Marsteller (www.bm.com), established in 1953, is a leading global public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most and communications counseling firm. It provides clients with strategic thinking and program execution across a full range of public relations, public affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. , advertising and other communications services. The firm's seamless global network is designed to deliver premium, integrated services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. through 46 wholly owned offices and 46 affiliate offices, together operating in 53 countries across six continents Six Continents is a large retail PLC in UK which split into Six Continents Retail known as Mitchells and Butlers plc. The hotels and soft drinks business of Six Continents PLC is now known as InterContinental Hotels Group PLC. . In 1979, the firm joined the Young & Rubicam family of companies, which in October 2000 was acquired by WPP Group WPP Group plc (LSE: WPP) (NASDAQ: WPPGY), based in London, United Kingdom, is one of the world's largest communications services groups (and one of the big six advertising holding companies, the others being Omnicom, Interpublic, Publicis, Dentsu and Havas) employing plc (NASDQ: WPPGY), one of the world's leading communications services groups. About CEOGO Burson-Marsteller created www.ceogo.com, the first comprehensive CEO-focused Web site. The site provides information and news to a growing community of professionals who are interested in chief executives - their reputations, changing roles and management strategies. CEOGO, which was included among The Asian Wall Street Journal's "Best Web Sites" list, features the latest research, announcements, trends and leadership resources for today's CEOs. |
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