English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Trust between government and business hits new low

NEW YORK: Public relations firm Edelman says the 14-point gap between business and government trusting each other is now the largest since it began the series in 2001.

Following a survey of 33,000 people in 27 countries, the company says the trust divide is over 20 points in nearly half - including 21 points in the U.S., India (26 points) and Brazil (36 points).

"In a few nations, the divide is as much as 40 points. This is a profound evolution in the landscape of trust from 2009, where business had to partner with government to regain trust, to today where business must lead the debate for change," it says.

The barometer says trust in government fell globally four points to an historic low (44 percent) in 2013, making it the least trusted institution for the third consecutive year. The drop in government trust was even more dramatic on a country level, falling in the U.S. (16 points to 37 percent), France (17 points to 32 percent) and Hong Kong (18 points to 45 percent). Among the general population trust in government fell Spain 14 percent in Spain, 18 percent in Italy and 20 percent in France.

Edelman Trust barometer 2014However according to Richard Edelman, company president and CEO, it would be a "monumental error in judgment" if businesses interpret the new data as an opportunity to push for deregulation.

"Our research indicates a reputation hangover for business from the Great Recession of 2008. Events of the past 12 months, including a record fine of $13 billion for J.P. Morgan on the sale of troubled mortgage securities, the largest ever bankruptcy in Latin America with the failure of Eike Batista's EBX deep-water oil drilling firm, and food scandals involving antibiotics in the poultry in China, have renewed concerns about business' ability to self-regulate."

Edelman says there is an opportunity for companies to make their case for change, with 84 percent of respondents believing corporations can pursue self-interest while doing good work for society. To this end, he suggests CEOs become "Chief Engagement Officers" and use a public platform for change – rather than relying on lobbying regulators or elected officials.

"Go on tour, engaging in debate with critics, informing media of all stripes, from mainstream to social. Enable your partners, from NGOs to academics, by briefing them regularly. Foster a culture that supports employees speaking out, amplifying the engagement and creating mass movement," he declares.

"We strongly urge business to take the chance to redefine value as being also about values, to connect with its stakeholders in a deeper manner by explaining the economic, societal and environmental context in which it seeks to operate. Trust will be conveyed to those companies and industries that recognize the need to move beyond transactional thinking toward better understanding of the tangible actions that will solve the issues we face," he concludes.

News

Written on 22/09/2017, 18:52
air-and-sea-aid-response-to-irma-and-mariaTORTOLA: September 22, 2017. With Hurricane Maria causing structural damage and power outages as it passes the Turks & Caicos islands, Royal Navy...
Written on 22/09/2017, 14:44
turkish-airlines-to-order-40-dreamlinersNEW YORK: September 21, 2017. Boeing and the Turkish government plan to develop Turkey's aerospace industry with the launch of a National Aerospace...
Written on 21/09/2017, 21:28
fedex-q1-results-hit-by-tnt-cyberattackMEMPHIS/MIAMI: September 20, 2017. FedEx Corporation has reported adjusted first quarter (Q1) revenue of US$15.3 billion, up from US$14.7 billion...
Written on 21/09/2017, 19:28
colorado-to-consider-hyperloop-one-link-with-wyomingLOS ANGELES, September 21, 2017. Hyperloop One is partnering with the Colorado Department of Transportation (CDoT) to determine the feasibility of...
Written on 21/09/2017, 18:15
rail-freight-up-19-percent-between-russia-and-chinaMOSCOW: September 20, 2017. Russian Railways' president Oleg Belozerov has reported a 6.9 percent increase in rail freight revenue year-on-year for the...
Written on 16/09/2017, 03:38
panam-provides-canada-rail-link-to-bostonPORT ST JOHN, Canada: September 13, 2017. Port operator DP World and PanAm Railways are launching an intermodal rail service between the New Brunswick...
Written on 13/09/2017, 21:01
cma-cgm-to-deliver-irma-humanitarian-aidMARSEILLE, September 13, 2017. The French government has asked CMA CGM to ship 46 modular living containers, food and vehicles from Marsellie on September...
Written on 10/09/2017, 21:27
u-s-department-of-defence-responds-to-irmaMARCO ISLAND, Florida: September 10, 2017. Hurricane Irma has become the second Category 4 hurricane to make landfall on the continental U.S. in less than...
Written on 08/09/2017, 19:53
iata-warns-of-airfreight-peakGENEVA: September 06, 2017. IATA reports an 11.4 percent increase in freight tonne kilometers (FTKs), in July over the same period a year ago. The...
Written on 08/09/2017, 19:21
alibaba-signs-third-government-mou-in-latin-americaHANGZHOU, China: September 06, 2017. The Alibaba Group has signed an MoU with Mexico to provide the country's SMEs with global e-commerce, digital...
Written on 06/09/2017, 21:07
mars-to-invest-nearly-us-1-billion-on-sustainabilityMCLEAN, VA.: September 06, 2017. Family-owned candy and pet-food manufacturer Mars is to spend nearly US$1billion on a sustainability plan to tackle...
Written on 06/09/2017, 18:43
europe-s-intermodal-rail-network-loses-billionsBRUSSELS: September 05, 2017. Over 20 European rail and logistics organizations are warning Europe's intermodal network is "about to collapse" following...
Written on 05/09/2017, 17:39
new-joint-venture-for-us-mexico-rail-ferryDARIEN, CT/FORT LAUDERDALE, FL: September 05, 2017. Railroad operator Genesee & Wyoming (G&W) is investing in a four-day rail ferry service...
Written on 03/09/2017, 22:17
audi-opts-for-green-rail-logisticsINGOLSTADT, Germany: September 01, 2017. Audi says it is the first company in Germany to be CO2-neutral using DB Cargo's 'DBeco plus' rail service. The...
Written on 30/08/2017, 23:14
public-private-partnerships-respond-to-harveyHOUSTON/BATON ROUGE: August 30, 2017. As UPS and FedEx join other US$1 million-donors in responding to what is described as the worst flooding disaster...
Written on 28/08/2017, 16:42
new-uk-garbage-transport-planLONDON: August 28, 2017. The British government is offering £22 million to develop low carbon waste-based fuels to power commercial aircraft and...
Written on 25/08/2017, 15:37
qantas-plans-profitable-nonstop-to-new-yorkSYDNEY: August 25, 2017. Qantas chairman Alan Joyce has challenged Boeing and Airbus to build an aircraft that can fly non-stop with a full payload...
Written on 24/08/2017, 22:04
walmart-launches-a-googlemart-to-compete-with-amazonBENTONVILLE, AK: August 23, 2017. Walmart is partnering with Google to launch voice shopping for its U.S. customers via Google Assistant starting in late...
Written on 24/08/2017, 19:33
nepal-forwarders-recognize-qatarKATMANDU: August 23, 2017. The Nepal Freight Forwarders Association has given Qatar Airways Cargo an award for carrying the most export tonnage out of...
Written on 23/08/2017, 17:30
panama-handles-largest-box-carrierPANAMA CANAL: August 22, 2017. The CMA CGM Theodore Roosevelt, with a capacity for 14,855 TEU, has become the largest box ship to traverse the expanded...

- powered by Quickchilli.com -