Central European Business Review
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CENTRAL EUROPEAN BUSINESS REVIEW
ISSN: 1805-4854 (Print) 1805-4862 (Online)
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CEO and Businesses are Losing Trust: Comparison of EU, USA, Czech and Slovak Republic

CEO and Businesses are Losing Trust: Comparison of EU, USA, Czech and Slovak Republic

Denisa Kasl Kollmannová

Abstract

This article presents an in-depth study based on open-source data analysis (Edelman Trust Barometer and European Communication Monitor) concerning the general loss of trust, which both commercial companies, governments and in minor scale also NGO´s have been experiencing since Global Financial Crisis in 2008. Trust is an essential line of corporate communications, public relations and reputation management of companies and it is personalized by the CEO´s and top management. According to the data, the trust to CEO saw biggest decline in trust in the U.S., however in Slovakia the trust is still quite high, on the contrary to E.U. in general where the level of trust to CEO reached historical minimum of 30%. The overall shift from trusting the traditional authorities, such as government, CEO´s and official representatives to academics, stakeholders, employees and general “vox populi” can be seen globally. The aim of this article is to define trust and the social and communication context of building the trust as a key factor in company´s reputation. Finally, clear managerial implications on reputation management focusing on the Czech and Slovak CEO´s and businesses will be given.


Keywords

trust, public relations, CEO, reputation management, communication strategy

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