Monday, August 5, 2013

Trust in Corporate America

Corporations in America have developed a bad reputation in recent years. Notorious corporate failures that coincided with the country's economic collapse created more distrust between Americans and large corporations. They continue to advertise about their desire to help America grow, take care of their employees and provide Americans with unique and helpful services, but people continue to see corporate Goliaths as poorly-run, uncaring and elitist, taking away much clout from their proclaimed intentions. To regain the trust corporations have lost, they need to understand the faults of past failures and prove, through transparency, that they have learned and want to change old corporate culture.

The distrust starts at the top, with corporate leadership. CEOs and board members are seen as selfish and uncaring for their shareholders and employees. Large paychecks and cushy benefits spoil the image of top-level suits and hinder any progress in regaining the people's trust. Perceived or exposed corruption at the top of big name giants have ruined the image of all corporations and fueled America's anger. A lack of information is the main culprit in this regard, forcing the people to create their own perception of a conglomerate without being given a glimpse of how that company operates.

Further down the chain, a corporation is judged by what product or service it provides. A company without a reasonably priced, quality product will never gain favor from prospective buyers or investors. A bad product shows a lack of respect for the customer and gives the impression that the corporate giant behind the product only cares about cutting corners to save money and protecting their own interests. So, it is critical for companies to back up what they claim and sell something that represents their care for the consumer. Taking the customer's point of view into consideration is vital in recapturing American trust, but without proof that the ways of the corporate world have changed, the wound will never heal.

The people need a sign that corporations truly want to be on their side, not against them. Being truthful and admitting to the things done wrong will show a sense of responsibility and begin to bridge the divide. But, ultimately, Americans want proof. They want to know that companies truly mean what they say. If corporations really want to earn back the trust they lost, then they must give some in return. 

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