Reputation in Oil, Gas and Mining 2014: Trust as a Business Driver
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Rishi Bhattacharya, managing director energy & industrials, Edelman Why Trust? Trust is a crucial asset. It is essential to protect, nurture and enhance trust in order to be successful in today’s complex operating environment. It is crucial for all organisations, but especially those operating in the energy sector. In this session, and based on the findings of the annual Edelman Trust Barometer, we explore the role of trust in moving a business from having a licence to operate, to having a licence to lead. Through a short presentation, panel discussion and Q&A we explore the state of trust, the interaction between business, government, NGOs and the media, how to go about building trust and its importance to the bottom line.
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Reputation in Oil, Gas and Mining 2014: Trust as a Business Driver
- 1. TRUST AS A BUSINESS DRIVER EDELMAN TRUST BAROMETER COMMUNICATE MAGAZINE REPUTATION IN OIL, GAS & MINING JUNE 11TH, 2014 @RISHIWISE1 @EDELMANENERGY #EDELTRUST
- 2. 2 GLOBAL ONLINE SURVEY IN 27 COUNTRIES • 33,000 respondents • 6 years in 20+ markets • 9 years in 10+ markets GENERAL POPULATION • 1000 respondents per country surveyed • Ages 18+ • 3 years in 25+ markets INFORMED PUBLICS • 500 respondents in U.S. and China & 200 in other countries • Ages 25-64 • College-educated • In top 25% of household income per age group in each country • Report significant media consumption and engagement in business news and public policy • 14 years of data EDELMAN’S 14TH ANNUAL SURVEY
- 3. 2014 BUSINESS TO LEAD THE DEBATE FOR CHANGE 2013 CRISIS OF LEADERSHIP 2012 FALL OF GOVERNMENT 2011 RISE OF AUTHORITY FIGURES 2010 TRUST IS NOW AN ESSENTIAL LINE OF BUSINESS 2009 BUSINESS MUST PARTNER WITH GOVERNMENT TO REGAIN TRUST 2008 YOUNG INFLUENCERS HAVE MORE TRUST IN BUSINESS 2007 BUSINESS MORE TRUSTED THAN GOVERNMENT AND MEDIA 2006 “A PERSON LIKE ME” EMERGES AS CREDIBLE SPOKESPERSON 2005 TRUST SHIFTS FROM “AUTHORITIES” TO PEERS 2004 U.S. COMPANIES IN EUROPE SUFFER TRUST DISCOUNT 2003 EARNED MEDIA MORE CREDIBLE THAN ADVERTISING 2002 FALL OF THE CELEBRITY CEO 2001 RISING INFLUENCE OF NGOS 3 EDELMAN TRUST BAROMETER IN RETROSPECT
- 4. ONE | The State of Trust
- 5. NGOS BUSINESS GOVERNMENT TRUST IN BUSINESS AND NGOS REMAINS STABLE; TRUST IN GOVERNMENT AND MEDIA DECREASES 5 TRUST IN THE FOUR INSTITUTIONS OF GOVERNMENT, BUSINESS, MEDIA AND NGOS, 2013 VS. 2014 TOTAL TRUST TRUST A GREAT DEAL MEDIA 63% 64% 22% 23% 2013 2014 #1 57% 52% 17% 16% 2013 2014 #3 58% 58% 17% 16% 2013 2014 #2 48% 44% 16% 15% 2013 2014 #4
- 6. GLOBAL 54 UAE 79 China 79 Singapore 73 Indonesia 72 India 69 Malaysia 65 Canada 60 Netherlands 60 Mexico 59 Hong Kong 59 Australia 58 Brazil 57 Germany 57 Argentina 53 U.K. 52 Sweden 51 S. Korea 51 S. Africa 50 U.S. 49 France 46 Japan 44 Italy 43 Turkey 41 Spain 39 Ireland 39 Russia 37 Poland 35 GLOBAL 57 China 80 Singapore 76 India 71 Mexico 68 Hong Kong 67 UAE 66 Malaysia 64 Canada 62 Indonesia 62 U.S. 59 Netherlands 59 Brazil 55 Germany 55 France 54 Sweden 54 U.K. 53 Italy 51 Australia 50 Poland 48 S. Korea 47 Ireland 46 Argentina 45 Spain 42 Turkey 42 Japan 41 Russia 36 SLIGHT DECLINE IN TRUST WITH STRONG REGIONAL VARIATIONS 6 BIG TRUST INCREASES FROM 2013 UAE +13 pts. Indonesia +10 pts. Australia + 8 pts. Argentina + 8 pts. 2013 2014 BIG TRUST DECREASES FROM 2013 Poland -13 pts. U.S. -10 pts. Mexico -9 pts. TRUSTERSNEUTRALDISTRUSTERS
- 7. 2014 TRUSTERSNEUTRALDISTRUSTERS GLOBAL TRUST DIFFERENCE OF 9 points MARKETS WITH LARGEST PERCEPTION GAPS: UAE (15 pts.) Australia (14 pts.) Germany (13 pts.) France (13 pts.) Sweden (13 pts.) GLOBAL 47 China 67 UAE 64 Singapore 64 Indonesia 62 India 61 Malaysia 57 Canada 54 Mexico 53 Netherlands 51 Hong Kong 50 Brazil 49 Argentina 49 Australia 44 Germany 44 S. Korea 43 U.K. 42 S. Africa 42 U.S. 42 Italy 41 Japan 40 Turkey 39 Sweden 38 Spain 36 Ireland 35 France 33 Poland 32 Russia 31 LOWER TRUST AMONG GENERAL PUBLIC 7 2014 GLOBAL 56 UAE 79 China 79 Singapore 73 Indonesia 72 India 69 Malaysia 65 Canada 60 Netherlands 60 Mexico 59 Hong Kong 59 Australia 58 Brazil 57 Germany 57 Argentina 53 U.K. 52 Sweden 51 S. Korea 51 S. Africa 50 U.S. 49 France 46 Japan 44 Italy 43 Turkey 41 Spain 39 Ireland 39 Russia 37 Poland 35
- 8. 50% TRUST IN BUSINESS VS. GOVERNMENT GOVERNMENT 8 BUSINESS GLOBAL GAP OF 14 PERCENTAGE POINTS BETWEEN TRUST IN BUSINESS AND GOVERNMENT HIGHER TRUST IN GOVERNMENT HIGHER TRUST IN BUSINESS 20+ PT. HIGHER TRUST IN BUSINESS 58% 63% 73% 70% 58% 82% 45% 79% 45% 58% 38% 41% 45% 72% 56% 62% 43% 53% 57% 49% 59% 77% 43% 71% 54% 39% 82% 51% 44% 17% 28% 34% 23% 53% 19% 53% 24% 37% 18% 21% 27% 54% 42% 51% 32% 45% 49% 45% 56% 76% 43% 75% 60% 45% 88% 63%
- 9. 50% 54% 56% 53% 58% 58% 43% 47% 52% 43% 48% 44% 30% 40% 50% 60% 70% 2009 2010 2011 2012 2013 2014 BUSINESS GOVERNMENT HISTORIC GAP BETWEEN BUSINESS AND GOVERNMENT GLOBAL TRUST IN GOVERNMENT AND BUSINESS SINCE 2009 9
- 10. 4 10 KEY FACTORS SHAPE TRUST IN BUSINESS LEADERSHIP/ CEO TRUST INDUSTRY SECTOR COUNTRY OF ORIGIN (HEADQUARTERS) ENTERPRISE TYPE
- 11. © Copyright 2014 Daniel J Edelman Ltd. Industry Sectors
- 12. TECHNOLOGY CONTINUES TO LEAD, ENERGY IMPROVES, BANKS AND FINANCIAL SERVICES TRAIL 12 TRUST IN INDUSTRIES, 2009 VS. 2014 20142009 2009 VS. 2014 79% 75% 70% 66% 65% 65% 64% 63% 60% 59% 59% 55% 51% 51% 50% Technology Consumer electronics manufacturing Automotive Food and beverage Consumer packaged goods Entertainment Brewing and spirits Telecommunications Consumer health companies Energy Pharmaceuticals Chemicals Media Banks Financial services +3 NA +12 +10 +11 +14 NA NA NA +4 +6 NA +8 +4 NA 76% NA 58% 56% 54% 51% NA NA NA 55% 53% NA 43% 47% NA Technology Consumer electronics manufacturing Automotive Food and beverage Consumer packaged goods Entertainment Brewing and spirits Telecommunications Consumer health companies Energy Pharmaceuticals Chemicals Media Banks Financial services
- 13. 55% 78% 75% 73% 73% 72% 39% 49% 68% 61% 42% 60% 56% 52% 49% 78% 42% 40% 21% 50% 30% 59% 90% 89% 86% 79% 78% 77% 76% 75% 74% 59% 59% 59% 57% 55% 54% 53% 53% 51% 51% 48% 47% 45% 42% 40% 39% 36% 32% ENERGY OVER 5 YEARS: FOR BETTER IN GERMANY, U.S.; FOR WORSE IN JAPAN, 13 TRUST IN ENERGY, 2009 VS. 2014 NA 2009 2014 NA NA NA NA NA NA
- 14. IN 20 OUT OF 27 MARKETS, ENERGY MORE TRUSTED THAN BUSINESS IN GENERAL 14 2014 TRUST IN ENERGY INDUSTRY VS. BUSINESS IN GENERAL 57% 81% 78% 76% 74% 71% 69% 69% 68% 67% 62% 56% 55% 55% 54% 54% 53% 52% 50% 48% 48% 47% 44% 41% 41% 36% 36% 31% 49% 63% 64% 62% 68% 60% 65% 62% 41% 57% 32% 48% 54% 33% 55% 49% 55% 56% 38% 45% 26% 33% 41% 49% 34% 43% 41% 45% Energy Industry Business
- 15. 57% 68% 58% 53% 49% 56% 70% 58% 54% 50% 50% Energy Industry Renewables Natural Gas Utilities Oil Mining N/A RENEWABLES ARE TRUSTED MORE THAN THE OVERALL ENERGY INDUSTRY; OIL AND MINING LEAST TRUSTED 15 TRUST IN ENERGY INDUSTRY SECTORS - GLOBAL 2013 2014
- 16. 68% 84% 79% 76% 72% 84% 73% 71% 76% 64% 70% 77% 75% 59% 70% 71% 68% 65% 68% 65% 64% 57% 55% 53% 61% 60% 59% 70% 82% 81% 79% 78% 77% 77% 77% 76% 75% 74% 73% 73% 71% 70% 68% 68% 67% 66% 66% 65% 65% 63% 61% 59% 58% 58% 55% NA UNANIMOUS TRUST IN RENEWABLES 16 TRUST IN ENERGY SECTORS - RENEWABLES 2013 2014
- 17. 58% 80% 85% 71% 72% 74% 70% 65% 70% 72% 65% 53% 53% 54% 53% 56% 45% 43% 60% 55% 49% 37% 46% 45% 47% 43% 37% 58% 82% 81% 80% 73% 70% 70% 69% 67% 66% 65% 58% 58% 57% 57% 52% 51% 51% 50% 50% 48% 45% 45% 43% 43% 42% 40% 40% NA TRUST IN NATURAL GAS MOSTLY ABOVE 50 PERCENT 17 TRUST IN ENERGY SECTORS – NATURAL GAS 2013 2014
- 18. TRUST IN UTILITIES STRONG; CRITICAL LOW POINTS 18 TRUST IN ENERGY SECTORS – UTILITIES 53% 75% 78% 68% 69% 73% 68% 74% 69% 64% 53% 53% 54% 54% 50% 40% 47% 57% 38% 36% 35% 39% 40% 36% 40% NA 40% 18% 54% 79% 77% 74% 74% 72% 71% 70% 69% 59% 58% 58% 54% 51% 51% 51% 51% 51% 45% 45% 39% 39% 38% 38% 37% 36% 35% 26% 2013 2014
- 19. 49% 77% 73% 74% 72% 77% 69% 69% 62% 66% 47% 52% 49% 37% 42% 33% 39% 30% 41% 35% 35% 33% 30% 33% 30% 29% 28% 50% 82% 81% 75% 72% 68% 68% 67% 66% 59% 53% 52% 52% 46% 43% 41% 40% 39% 39% 38% 37% 36% 36% 33% 30% 30% 30% 29% NA HIGH VARIATION OVER TRUST IN THE OIL SECTOR 19 TRUST IN ENERGY SECTORS - OIL 2013 2014
- 20. MINING MOST TRUSTED IN DEVELOPING NATIONS 20 TRUST IN ENERGY SECTORS – MINING 50% 70% 68% 67% 66% 66% 65% 63% 60% 59% 57% 54% 54% 50% 46% 45% 45% 45% 44% 44% 44% 42% 38% 36% 33% 32% 32% 29%
- 21. © Copyright 2014 Daniel J Edelman Ltd. 21 Country of Origin
- 22. COMPANIES HEADQUARTERED IN BRIC NATIONS SUFFER A TRUST DEFICIT 22 TRUST IN COMPANIES HEADQUARTERED IN THE FOLLOWING COUNTRIES M O S T T R U S T E D 80% 79% 79% 78% 75% 74% 71% 68% 67% 55% 54% 53% 42% 38% 36% 35% 34% Germany Sweden Switzerland Canada U.K. Japan TheNetherlands U.S. France Italy SouthKorea Spain Brazil Russia China India Mexico
- 23. 23% 27% 32% 29% 82% 35% Germany France United Kingdom United States India Global 18% 25% 21% 18% 42% 38% Germany France United Kingdom United States Russia Global 27% 25% 31% 21% 76% 36% Germany France United Kingdom United States China Global LOWER WESTERN TRUST IN COMPANIES HEADQUARTERED IN RUSSIA, INDIA AND CHINA 23 TRUST IN COMPANIES HEADQUARTERED IN… CHINA RUSSIA INDIA
- 24. 56% 81% 78% 76% 74% 71% 69% 69% 68% 67% 62% 56% 55% 55% 54% 54% 53% 52% 50% 48% 48% 47% 44% 41% 41% 36% 36% 31% 24% 6% 9% 10% 9% 9% 16% 9% 12% 18% 16% 24% 24% 23% 29% 28% 28% 26% 30% 27% 22% 32% 37% 41% 38% 43% 38% 54% UK HAS HIGHEST PROPORTION OF DISTRUSTERS IN ENERGY OF ANY MARKET SURVEYED 24 TRUST IN ENERGY INDUSTRY VS. DISTRUST IN ENERGY INDUSTRY TRUSTERS IN ENERGY INDUSTRY DISTRUSTERS IN ENERGY INDUSTRY
- 25. ENERGY SUFFERS FROM A SIGNIFICANT TRUST DEFICIT WHEN COMPARED TO LEVELS OF TRUST IN BUSINESS 25 TRUST IN ENERGY INDUSTRY VS. TRUST IN BUSINESS - UK 56% TRUST IN BUSINESS 32% TRUST IN THE ENERGY INDUSTRY TRUST IN BUSINESS TRUST IN ENERGY 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 32% 56%
- 26. 54% 41% 39% 20% 12% 8% 6% 16% 16% 29% 36% 57% Norway USA EU Qatar Ukraine Russia NORWAY AND THE USA ARE THE MOST TRUSTED ENERGY TRADING PARTNERS; <10% VIEW RUSSIA AS TRUSTWORTHY 26 TRUSTWORTHINESS OF COUNTRIES AS ENERGY TRADING PARTNERS NET TRUSTWORTHY NET NOT TRUSTWORTHY
- 27. ENERGY INDUSTRY SINKS TO THE LEAST TRUSTED IN THE UK, ALONGSIDE BANKS 27 TRUST IN INDUSTRIES, 2013 VS. 2014 - U.K. 79% 77% 71% 70% 69% 69% 64% 64% 62% 59% 49% 44% 43% 32% 32% TECHNOLOGY CONSUMER ELECTRONICS MANUFACTURING BREWING AND SPIRITS FOOD AND BEVERAGE CONSUMER PACKAGED GOODS ENTERTAINMENT AUTOMOTIVE CONSUMER HEALTH COMPANIES TELECOMMUNICATIONS PHARMACEUTICALS CHEMICALS FINANCIAL SERVICES MEDIA BANKS ENERGY29% 34% 36% 38% 47% 55% 56% 56% 57% 60% 62% 65% 66% 66% 72% BANKS FINANCIAL SERVICES MEDIA ENERGY CHEMICALS TELECOMMUNICATIONS PHARMACEUTICALS CONSUMER HEALTH COMPANIES CONSUMER PACKAGED GOODS ENTERTAINMENT BREWING AND SPIRITS AUTOMOTIVE FOOD AND BEVERAGE CONSUMER ELECTRONICS MANUFACTURING TECHNOLOGY 20142013
- 28. NEARLY SIX IN TEN REPORT TRUSTING THE ENERGY INDUSTRY LESS THIS YEAR 28 THE CHANGE IN TRUST IN THE UK ENERGY SECTOR Decrease in trust because… 36% 38% 42% 69% 82% Low reliability of service Limited range of tariffs Poor customer service Levels of profit in the industry Increasing price of bills
- 29. 59% WHILE THE LEAST TRUSTED INDUSTRY, NEARLY SIX IN TEN EITHER TRUST OR ARE NEUTRAL TOWARDS THE SHALE GAS INDUSTRY 29 TRUST IN SECTORS WITHIN THE ENERGY INDUSTRY TO DO WHAT IS RIGHT TRUST NEUTRAL 61% 57% 48% 43% 33% 21% 21% 27% 23% 26% 18% 22% 26% 33% 41% Solar energy industry Wind-generated energy industry Natural gas industry Nuclear industry Shale gas industry DISTRUST
- 30. OVER HALF REPORT THEY WOULD TRUST THE ENERGY INDUSTRY MORE IF IT WAS UNDER STATE CONTROL 30 WOULD YOU TRUST THE ENERGY INDUSTRY MORE IF IT WAS UNDER… 56% 18% 26% State control Private control Don't know
- 31. © Copyright 2014 Daniel J Edelman Ltd. 31 Enterprise Type
- 32. FAMILY-OWNED AND SMALL- AND MEDIUM-SIZED BUSINESSES HAVE A TRUST ADVANTAGE EXCEPT IN ASIA 32 TRUST IN DIFFERENT TYPES OF BUSINESS – BY REGION
- 33. 43% 54% 44% 63% 39% 53% 55% 49% 54% 65% 66% 70% 67% 60% 58% 46% 63% 38% 52% 52% 45% 50% 61% 60% 62% 58% HAVE TOO MUCH POLITICAL INFLUENCE DELIVER CONSISTENT FINANCIAL RETURNS ARE TRANSPARENT IN THEIR BUSINESS PRACTICES THINK LONG-TERM ARE PHILANTHROPIC TOP LEADERSHIP ACT RESPONSIBLY RESPONSIVE TO EMPLOYEES' NEEDS RESPONSIVE TO SOCIETY'S NEEDS OFFER HIGH QUALITY PRODUCTS OR SERVICES ARE INNOVATIVE ARE ENTREPRENEURIAL RESPONSIVE TO CUSTOMERS' NEEDS PUBLICLY-TRADED PRIVATELY-HELD DIFFERENCES EXIST IN PERCEPTIONS OF COMPANY TYPES: POLITICAL INFLUENCE, CUSTOMER NEEDS AND ENTREPRENEURSHIP HAVE LARGEST GAPS 33 PHRASES ASSOCIATED WITH PUBLICLY-TRADED & PRIVATELY-HELD BUSINESSES +9 +8 +6 +4 +4 +4 +3 +1 +1 -2 -4 -17
- 34. © Copyright 2014 Daniel J Edelman Ltd. 34 Leadership/CEO Trust
- 35. 82% 81% 80% 79% 69% 53% Communicates clearly and transparently Tells the truth, regardless of how complex or unpopular it is Engages with employees regularly to discuss the state of the business Is front and center during challenging times (product recalls, lawsuits, etc.) Is personally involved in supporting local charities and good causes Has an active media presence WHAT CEOS SHOULD DO TO BUILD TRUST 35 ACTIONS A CEO CAN TAKE TO BUILD TRUST IN THEMSELVES AND THEIR COMPANY
- 36. 2014 36% 43% 52% 52% 53% 62% 66% 67% GOVERNMENT OFFICIAL OR REGULATOR CEO REGULAR EMPLOYEE NGO REPRESENTATIVE FINANCIAL OR INDUSTRY ANALYST A PERSON LIKE YOURSELF TECHNICAL EXPERT ACADEMIC OR EXPERT 2009 VS. 2014 CEOS & SPOKESPEOPLE CAN INCREASE TRUST BY LEVERAGING THEIR EXPERTISE 36 CREDIBILITY OF SPOKESPEOPLE 2009 29% 31% 32% 41% 49% 47% 62% GOVERNMENT OFFICIAL OR REGULATOR CEO REGULAR EMPLOYEE NGO REPRESENTATIVE FINANCIAL OR INDUSTRY ANALYST A PERSON LIKE YOURSELF TECHNICAL EXPERT* ACADEMIC OR EXPERT * Not tested in 2009 +5 +15 +4 +9 +20 +12 +7 NA
- 38. WHY DOES TRUST MATTER? 38 THE EFFECTS THAT BEING TRUSTED OR DISTRUSTED WILL HAVE ON A COMPANY’S BOTTOM LINE 10% 32% 36% 51% 63% CHOSE TO BUY PRODUCTS/SERVICES RECOMMENDED THEM TO A FRIEND/COLLEAGUE PAID MORE FOR PRODUCTS/SERVICES SHARED POSITIVE OPINIONS ONLINE BOUGHT SHARES REFUSED TO BUY PRODUCTS/SERVICES CRITICIZED THEM TO A FRIEND/COLLEAGUE SHARED NEGATIVE OPINIONS ONLINE SOLD SHARES DISTRUSTED COMPANIES TRUSTED COMPANIES 53% 56% 30% 6%
- 39. ENGAGEMENT AND INTEGRITY ARE KEY TO BUILDING TRUST 39 19% 15% 16% 16% 22% 18% 17% 19% 19% 19% 25% 21% 21% 24% 22% 25% 27% 29% 29% 30% 33% 40% 40% 43% 50% 52% 54% 55% 56% 58% 59% 61% CONSISTENT FINANCIAL RETURNS PARTNERS WITH THIRD PARTIES TOP GLOBAL COMPANY ADMIRED TOP LEADERSHIP INNOVATOR ADDRESSES SOCIETY'S NEEDS POSITIVELY IMPACTS COMMUNITY PROTECTS ENVIRONMENT COMMUNICATES OFTEN IS ETHICAL HIGH QUALITY PRODUCTS ACTS RESPONSIBLY IN CRISIS TRANSPARENT & OPEN LOOKS AFTER EMPLOYEES CUSTOMERS BEFORE PROFITS LISTENS TO CUSTOMERS BUSINESS IMPORTANCE VS. BUSINESS PERFORMANCE ON 16 TRUST DRIVERS (UK). INTEGRITY PURPOSE OPERATIONS PRODUCTS & SERVICES ENGAGEMENT
- 40. REGARDLESS OF AUDIENCE, NGO PARTNERSHIPS ARE CRITICAL 40 TRUST IN NGOS – ENVIRONMENTAL 63% 78% 76% 75% 74% 73% 73% 72% 71% 71% 68% 66% 64% 64% 62% 62% 62% 60% 59% 59% 58% 55% 55% 49% 48% 47% 46% 43% 69% 84% 77% 83% 86% 76% 82% 79% 83% 75% 75% 67% 67% 66% 64% 70% 64% 64% 69% 71% 66% 67% 66% 64% 54% 38% 49% 48% General Public Informed Public
- 41. OVER HALF SEE GOVERNMENT’S ROLE AS PROTECTING CONSUMERS FROM BUSINESSES 41 MOST IMPORTANT ROLE FOR GOVERNMENT IN BUSINESS 51% 28% 23% 21% 18% 5% 4% 1% PROTECT CONSUMERS FROM IRRESPONSIBLE BUSINESSES REGULATE BUSINESS BUILD BUSINESS INFRASTRUCTURE ENSURE FREE MARKET ACCESS GOVERNMENT SHOULD NOT PLAY A ROLE IN BUSINESS FINANCIALLY HELP BUSINESS DURING CRISES DON'T KNOW
- 42. CONSUMERS BELIEVE BUSINESSES SHOULD BE ACTIVE PARTICIPANTS IN THE DEBATES THEIR INDUSTRY IS ENGAGED IN 42 PERCENTAGE AGREEING WITH EACH OF THE FOLLOWING STATEMENTS - U.K. The financial services industry should be a more active participant in the broader debate over the future of the UK banking system When policymakers are developing new regulations on businesses and industries, they should consult with multiple stakeholders (i.e. NGOs, academics, the affected businesses/industries, etc.) before making final decisions The energy industry should be a more active participant in the broader debate over UK energy policy The food and beverage industry should be a more active participant in the broader debate in UK over solutions to food and nutrition policy issues 63% 82% 70% 65%
- 43. TRUST-BUILDING OPPORTUNITY QUADRANT ENGAGEMENT AND INTEGRITY: PRIORITY AREAS 43 STATEDIMPORTANCE STATED PERFORMANCE ENGAGEMENT INTEGRITY OPERATIONSPURPOSE PRODUCTS & SERVICES HIGH-PERFORMING ON HIGH PRIORITIESUNDER-PERFORMING ON HIGH PRIORITIES UNDER-PERFORMING ON LOWER EXPECTATIONS HIGH-PERFORMING ON LOWER PRIORITIES Now tablestakes, in 2008 Operations were much higher in importance for building trust.
- 44. A NEW TRUST ENVIRONMENT 44 86% believe a company can take specific actions that both increase profits and improve the economic and social conditions in the communities where it operates. Operations and CSR programs are now tablestakes (compared to 2008). Business must focus on Engagement and Integrityto build trust. CEO must become Chief Engagement Officer There has been a significant change in the trust environment since 2009. Business must now lead the debate for change. People trust business to innovate, unite and deliver across borders in a way that government can’t. This trust comes with the expectation and responsibility to maintain it. Doing this is less risky than not doing it at all.
- 45. Rishi Bhattacharya, Managing Director rishi.bhattacharya@edelman.com +44 (0)20 3047 2361 Follow us on Twitter – @RishiWise1 / @EdelmanEnergy Q & A