Major Companies are increasingly concerned with their Corporate Image
Big bosses and senior partners are paying the price for the bad image of their companies. It is clearly a heavy trend in today's business world. An example among many other: the Managing Director of Rio Tinto -a major mining and metals company which operates in 36 countries in the world- was forced to resign from his position. He was criticized for having accepted the destruction of an Aboriginal place in order to expand an iron mine. Another case in point is that of the former head of the automotive group Renault-Nissan who is pursued in justice for misappropriation of funds. " It takes 20 years to build a reputation and 5 minutes to ruin it ". This quote from Warren Buffett fits very well with this issue. The top 5 companies with the best reputation are:1.Lego 2.The Walt Disney Company. 3.Rolex. 4.Ferrari. 5.Microsoft. (Re.CSR Reputation 2020). In a globalized world, the business climate has become very tough. Customers and shareholders will turn away from companies which reputation is called into question. Obviously the corporate image has become essential to the long-term survival of a business.