85% believed that corporations should create shareholder value in ways that align with society’s interests, even if that means sacrificing shareholder value
One way to build brand loyalty in the pharmaceutical and biotech industry is by forming and maintaining relationships based on trust. The 2011 Edelman Trust Barometer, which surveyed 5,075 people ages 25-64 in 23 countries, found that the best way to earn trust today is through action, transparency and engagement.
Although the study showed an overall increase in trust worldwide, the U.S. was the only country to see a decline across all four main sectors—business, government, media and non-governmental organizations (NGOs).
In 19 of the 23 countries surveyed, business was as or more trusted than the government. Trusting a business to do what is right dropped 8% in the U.S., which shifted the U.S. out of neutral and into the distruster category. For the first time, trust in NGOs was equal to business in developing countries, a rise in the last 5 years. In the U.S., trust in NGOs and the media decreased 8% and 11% respectively.