Close to 55% of Hong Kong business executives blame their CEOs when the company’s reputation comes under crisis, according to the latest study done by Weber Shandwick with KRC Research. The Safeguarding Reputation study also found that Hong Kong executives cited major triggers of reputation failures as financial irregularity (74%), unethical behavior, (65%), factory breakdowns or explosions resulting in injuries (66%),

security breaches (66%) as well as health and safety issue product recalls (63%).

“Interestingly, many of the reasons causing companies to suffer reputation loss are self-inflicted.  Financial irregularities, unethical behavior and executive misconduct are all issues that could be prevented if companies had better controls in place,” Leslie Gaines-Ross (pictured), chief reputation strategist for Weber Shandwick said in a statement.

“Companies continue to overlook how damaging threats from online activists and pressure groups can be if they are not prepared to respond quickly and decisively. The survey also underscores how executives around the world have grown accustomed to rising CEO compensation and executive turnover,” he said.

The study was conducted among 950 global business executives in 11 countries across the globe.

(Source: Marketing Megazine)