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Software industry

Corporate America's Reputation Hits Rock Bottom, Johnson & Johnson Climbs to Top Spot

Strategic Insights

— 2 min read

Corporate America's reputation has sunk to its lowest level in 10 years, according to the 10th Annual Harris Interactive Reputation Quotient (RQ) study. The study of 60 most visible companies found that bailouts, bonuses, and bad business behavior eroded public trust. Technology remains the highest-rated industry, but its reputation declined, while the Automotive industry suffered the greatest decrease ever. Johnson & Johnson reclaimed the top spot, recording the highest individual company score since 2001, with Google and Sony following closely behind. The Pharmaceutical industry was the only industry to register a significant positive change from 2007.

Key Takeaways:

  • Johnson & Johnson reclaimed the top spot for the 8th time in the study's 10-year history, with an RQ score of 90.4.
  • Google and Sony ranked second and third, respectively, with high scores in the Emotional Appeal and Products & Services categories.
  • The Pharmaceutical industry registered a significant positive change from 2007, while the Automotive industry suffered the greatest decrease ever.
  • The Financial Services industry now shares the lowest industry ranking with the Tobacco industry, with only 11% of the public giving positive ratings to these industries.
  • Wal-Mart and Sony showed significant improvement in their RQ scores, with Wal-Mart's score increasing by almost 5 points.
  • The Detroit automakers recorded the three largest reputation declines, with General Motors suffering one of the biggest one-year drops in the survey's history.
  • The three Detroit automakers were ranked 58th, 59th, and 60th on the list of 60 companies rated.
  • AIG recorded one of the lowest scores in the study's history, with Enron's 2005 score being the last at this low level.
  • The majority of Americans (77%) believe that the country's economic condition will stay the same or get worse in the next 6-12 months.
  • Three quarters of the American public believe that the economic crisis has worsened their overall view of the reputation of companies.
  • 90% of Americans give some consideration to sustainable business practices when purchasing a company's products and services.

Statistics:

  • 98% of Americans believe it is important that corporations evolve to more sustainable business practices.
  • 68% believe American corporations are lagging behind companies in other countries.
  • 16% of Americans believe that American companies will make these changes on their own.
  • 90% of Americans consider sustainable business practices when purchasing a company's products and services.
  • 77% of Americans believe the country's economic condition will stay the same or get worse in the next 6-12 months.
  • 98% of Americans believe it is important that corporations evolve to more sustainable business practices.

Sources:

  • Harris Interactive Reputation Quotient (RQ) study
  • Harris Interactive RQ survey
  • Harris Interactive Inc.
  • www.harrisinteractive.com
  • 04/09 (no specific date mentioned)

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