Taking "economic responsibility" pays off
A study by commsLAB AG and the Research Institute Public and Society at the University of Zurich proves that it pays for companies to assume "economic responsibility. The study is based on media data and key economic figures for around 130 companies in the Swiss economy. Suva is the publisher of the study.
Since the financial market crisis of 2007/2008, society's expectations of corporate responsibility on the part of economic players have changed fundamentally. Since then, the public has increasingly judged companies and business sectors on the basis of the extent to which they fulfill their economic responsibility.
Reputation as a value-adding factor
In the first part, the study looks at the development of public trust in the Swiss economy and its companies. By linking reputation developments with economic key figures of listed companies, it shows that an above-average reputation is also a value-creation factor. The public perception conveyed by the media thus plays a central role both in the development and destruction of reputation and in the economic success of a company.
Reputation is an expression of fulfilled social expectations. The second part of the study examines which forms of representation gained or lost importance in media coverage between 2005 and June 2018. Whereas at the beginning of this period it was mainly economic success and responsibility to shareholders that were important, in the course of the crisis the public increasingly focused on "economic responsibility" as a key differentiator.
"Economic responsibility" pays off several times over
The study concludes that assuming economic responsibility pays off significantly for individual companies and sectors, both on an intangible level (reputational effects) and on a material level (economic effects). Companies that are perceived by the public as being economically responsible have greater power of definition in public communication. They are therefore in a better position to help shape their public positioning with their own messages. In addition, these companies benefit from greater trust in corporate management.
Suva is the publisher of the study
On the occasion of its "100-year anniversary", Suva supported the present study on the Swiss economy. With its business model, which has always been designed to combine social and economic activities, Suva acts as an economically responsible player. Felix Weber, Chief Executive Officer of Suva, confirms this: "With its commitment to the safety of people, Suva has not only made an important contribution to social peace over the past 100 years, but has also contributed to the economic prosperity of Switzerland. We are ready to continue fulfilling these tasks in the next 100 years."
More information: www.commslab.com, www.foeg.uzh.ch
