Every year, companies do irreversible harm to their public image either by making decisions that hurt their bottom line or by getting caught up in a scandal that tarnishes their image.
These financial and public relations issues can cause consumers to rethink their spending preferences, often making them avoid negatively-viewed businesses. If one of these scandals becomes front page news, it can be very difficult for the corporation to rehabilitate its image.
To determine the world’s least admired companies for 2021, 24/7 Wall St. reviewed a survey from Fortune and management consulting firm Korn Ferry of over 3,800 executives and analysts. In the survey, the largest companies by revenue were ranked along with other companies in their industry on criteria like innovation, quality of management, global competitiveness, and more. Only companies that ranked in the lower half of their industry were considered for our list.
Many of the companies on this list have been involved in headline-grabbing scandals in recent years. They have been accused of producing faulty equipment, deceiving investors, or even being responsible for fatal disasters. These headlines can shape public perception of the businesses for years. These are the companies with the best and worst reputations.
Many companies that rank among the least admired have struggled financially in recent years, even before the COVID-19 pandemic shook the world’s economy. CEOs are well compensated, and investors expect executives running large companies to innovate, anticipate market trends, and ensure the company is profitable. These companies’ CEOs have often failed in their duties. These are America’s highest paid CEOs.