13th March 2015
The Ford Motor Company – one of the most iconic car brands - has been named by Ethisphere Institute as one of the World's Most Ethical Companiesfor 2015.
The success comes at a time when how this famous centenarian conducts its business is viewed as equally seriously as the products and services it provides, new research shows.
“This award celebrates doing business the right way, and making the right choices every day," said Ford Motor Company Executive Chairman, Bill Ford. “Ethics and corporate citizenship are important factors that affect a company's reputation and success, and we are proud Ford is the only automaker to have received this honour for six consecutive years."
Based on an independent framework developed by the Ethisphere Institute to assess an organisation's performance in an objective, consistent and standardised manner, the honour is given based on top ratings in five categories. These are: ethics and compliance; corporate citizenship and responsibility; culture of ethics, governance and leadership; innovation; and reputation.
“The World's Most Ethical Companies embrace the correlation between ethical business practice and improved company performance," said Timothy Erblich, Ethisphere chief executive officer. “Earning this recognition involves the collective action of a global work force from the top down. We congratulate everyone at Ford for this extraordinary achievement."
The honour marries with data which, perhaps unsurprisingly, demonstrates that a reputation for ethics and trust plays a role in the purchase decisions of consumers. According to the 2015 Harris Poll Reputation Quotient, 53 per cent of the U.S. public took time to learn more about a company before deciding to do business with them.
Ford predicts this trend will influence consumers of all ages – especially younger drivers. Generation Z members born after 1993 are over 50 per cent more likely than their millennial counterparts to say they want to have an impact on the world; these consumers are more likely to do business with companies that share their values, according to a study from research firm Sparks & Honey.
Ford is in good company – other winners include chic skin care company L'Oreal and legendary clothing retailers 'GAP' and Levi Strauss.