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Charities beat companies

The charitable arm of the world’s biggest fast food chain, McDonald’s, has left Australia’s banks in the wake of its clown-sized shoes in an annual survey of Australia’s most reputable charities, the Australian Financial Review reports.

Ronald McDonald House Charities jumped 12 spots in the latest rankings compiled by the Reputation Institute, an advisory firm.

The banks took a battering in a previous survey examining the reputation of Australia’s largest companies, with Commonwealth Bank falling 21 places from 36 to 57.

The top 26 charities had better reputations than the best-ranked Australian corporations, including Qantas and Toyota, according to the new survey of more than 7000 people on Australia’s 40 largest charities.

But even the worst-ranked charities polled better than many of Australia’s largest companies.

“Our corporations could learn a lot from the charitable sector, particularly as they manage ongoing reputation issues affecting our financial services industry,” Oliver Freedman, managing director of the Reputation Institute, says.

There is an increased sense among the public that corporations should create some benefit to the community they operate in, beyond profit generation, according to Mr Freedman.

“You see the CEOs realising, ‘We need to stand for more than profit. How does our business or our industry contribute to the community?'” Mr Freedman says.

FULL STORY

Australian charities beat companies on reputation (Australian Financial Review)

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