Restoring Corporate Credibility…

In the same week that former Enron treasurer Ben Glisan was hauled off to prison, a new study reveals that an overwhelming majority of business leaders are confident they can
restore corporate credibility. It'll take some time, though, about four years, which begs the question: what happens if there's another spate of corporate scandals during that
period? The 2003 Building CEO Capital Study, conducted by PR firm Burson-Marsteller, found that 97% business influencers -- many from Fortune 500 companies - believe a company
can recover from a tarnished reputation in time. The study also revealed how crucial the CEO's reputation is in the ability to turn things around. When Burson first conducted its
CEO reputation in 1997, business leaders estimated that 40% of a company's reputation was attributable to its CEO. That figure has steadily grown in the past six years, topping
off at 50% in 2003.