By Greg Hazley
Stung by unemployment, a sluggish economy, product recalls and bailout fatigue, 61 percent of Americans say corporate America failed to meet its expectations in 2010 as 82% graded the country’s business institutions at a “C” or lower, according to polling from Edelman’s StrategyOne unit.
Part of that dour outlook likely comes from the 88% who feel corporations have recovered from the economic recession faster than American families. As such, 85% said companies have better prospects for 2011 than families and six in 10 believe that those higher expectations for 2011 will be met, according to the poll of 1,081 Americans.
StrategyOne senior VP Bradley Honan said the results show consumers are “highly dissatisfied” with U.S. business, which need to go “back to basics” to mitigate such perceptions.
“Explaining not only ‘what’ they do for the country, but ‘how’ and ‘why’ they do it needs to be the game plan for how to rebuild corporate reputation,” he said, adding that consumers are not seeking a corporate “utopia,” but want business to make a more positive difference.
The path to rebuilding that reputation, more than 80 percent of respondents said, involves businesses improving the economy, reducing unemployment, promoting ethical behavior, paying back bailout funds, making products with fewer recalls and fewer mistakes overall.
Forty percent of respondents assigned corporate America a letter grade of “D” or “F,” while only 17% gave out “As” and “Bs.”
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