Only 19% of chief executive officers worldwide believe new corporate governance standards will lead to more ethical behaviour by companies, according to the Corporate Reputation Watch Survey conducted by ORC International. Most leaders think that high profile cases of corporate wrongdoing and diminished reputations over the last two years have permanently changed the corporate world (81% in Europe, 88% in Asia and 78% in North America).
Unethical corporate behaviour is cited by 50% of CEOs as one of the three biggest threats to their company's reputation, alongside product and service problems (50%) and customer criticism (40%). CEOs' top priorities are now improving internal controls (76%), reviewing auditor and accounting relationships (64%) and revising codes of conduct (55%). In Europe, the 'fat cat' debate is still important with 56% of European CEOs placing significant emphasis on executive compensation (compared to 33% of North American CEOs).
Approximately three-quarters of executives expect increased disclosure to remain and 68% believe boards will include a higher proportion of independent directors in the future.
Over 65% of CEOs believe it is their personal responsibility to manage their company's reputation, ahead of the board at 14%. Within Europe, 44% of CEOs take responsibility, and 38% believe this is the responsibility of the board.
External force with most impact on reputation Customers 78% Print media 48% Financial analyst 44% Most important business objective achieved by their company's CSR programme Recruiting and retaining employees 71% Generating favourable media coverage 51% Promoting transactions and partnerships 40% Source: Corporate Reputation Watch
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