Trust in business

Blame for the financial and political chaos of 2011 landed at the doorstep of government, as trust in that institution fell a record nine points to 43 percent globally, according to the 2012 Edelman Trust Barometer. In 17 of the 25 countries surveyed, government is now trusted by less than half to do what is right. In 12, it trails business, media, and non-governmental organizations as the least trusted institution. France, Spain, Brazil, China, Russia, and Japan, as well as six other countries, saw government trust drop by more than 10 points. Government officials are now the least credible spokespeople, with only 29 per cent considering them credible. Nearly half of the general population say they do not trust government leaders to tell the truth. Although business experienced fewer and generally less severe declines in trust, it has its own hurdles to clear. Trust in business fell globally from 56 per cent to 53 per cent, with countries like France and Germany, in the heart of the Eurozone economic crisis, experiencing double-digit decreases. Lack of confidence in business spread to South Korea, where trust dropped 15 points. China was the only country to see a significant increase in trust in business, rising from 61 to 71 per cent. CEO credibility declined 12 points to 38 per cent, its biggest drop in nine years. In South Korea and Japan, it dropped by 34 and 43 points, respectively. In the midst of this systemic decline in trust, a “person like me” has re-emerged as one of the three most credible spokespeople, with the biggest increase in credibility since 2004, and now trails only academics and technical experts. Regular employees jumped from least credible spokesperson to tied for fourth on the list, with a 16-point record rise. Social-networking, micro-blogging, and content-sharing sites witnessed the most dramatic percentage increase as trusted sources of information about a company, rising by 88, 86, and 75 percent, respectively. Taken from Edelman Trust Barometer Global Press Release

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