New Study from Reputation Institute Reports Across-the-Board Reputation Lift for World’s Top 100 Brands Driven Largely By Elevated CSR Practices
Consumer regard for the world’s 100 most reputable corporations is getting stronger due in large part to a sharpened focus on corporate purpose and the social impact of their business, according to the 10th annual Global RepTrak, the world’s most comprehensive reputation study released by Reputation Institute.
While companies with the strongest reputation must not waver from delivering products and services of the highest quality and value, key drivers of reputation, the new study reports an across-the-board reputation lift largely influenced by strengthening perceptions of a company’s corporate social responsibility (CSR) practices.
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“We see, for the first time in 2020, how iconic legacy brands are reinvigorating themselves to drive deeper relevancy. They are doing this consistently, at scale and for multiple stakeholders,” said Kylie Wright-Ford, CEO of Reputation Institute, which measures the reputation of more than 7,600 companies each year. “What distinguishes these best-in-class companies is their ability to find new ways to connect with consumers and shareholders alike by delivering excellent products, industry-leading innovation, and a truly meaningful purpose. This is the way leading companies create enduring reputation value.”
What is changing is how companies are delivering against consumer expectations. For example, perceptions of the products and services provided by the top 100 companies have stalled year-over-year, although these companies are still receiving a strong score in this category from consumers. On the other hand, perceptions of citizenship, workplace and corporate governance — which even among the top 100 companies tend to be average — have improved the most over 2019.
While this change in global perceptions reflects the elevated importance of CSR and purpose in the way companies execute and talk about business, there is still a long way for companies to go as 56% of respondents claimed to be “on the fence” regarding their support towards the top 100.
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The 10 companies with the best reputation in the world according to the 2020 Global RepTrak:
- The LEGO Group
- The Walt Disney Company (NYSE: DIS)
- Rolex
- Ferrari (NYSE: RACE)
- Microsoft (NASDAQ: MSFT)
- Levi Strauss & Co. (NYSE: LEVI)
- Netflix (NASDAQ: NFLX)
- Adidas Group (OTCQX: ADDYY)
- The Bosch Group (NYSE: AVX)
- Intel (NYSE: INTC)
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