Rolex remains the world’s most reputable company

[GradyPhilpott]

While Rolex is still the most reputable company in the world, it does not retain it's "'excellent' rating."

https://www.forbes.com/sites/vickyva.../#6b797fdc26d5

Of the 100 companies on the list, 58% of those experienced a decline in ratings.

“There is a growing crisis of trust in the world, especially among big companies making record profits,” said Hahn-Griffiths. “These companies are increasingly judged on aspects of their morality and ethics. Today, companies are more widely scrutinized based on their alignment with social causes, how they behave, their enterprise-wide values and the internal culture they create – they are not solely measured on what they make or how the make it.”

http://www.watchpro.com/rolex-remain...A+-+2018-03-19

Rolex has taken a lot of flak on these boards of late, which one might presume would be the most forgiving bunch of folks in the world.

Are the findings of the RepTrack 100 related to the supply and demand crisis of late or is there a deeper meaning, seeing as how this is a fairly large trend?

[Etschell]

only explanation is forbes editor is still on daytonac waitlist.

[DoctorA]

Originally Posted by Etschell

only explanation is forbes editor is still on daytonac waitlist.

[thomaswentworth]

I think among the mass consumer base, Rolex is viewed as a philanthropic organization with the best known luxury brand name and sponsorship of high net worth events. Beyond that, they are constantly having to fight against those making illegal copies of their watches, boxes, dials, accessories, etc. They have a lengthy history, ultimate prestige, never any bad press. People rob stores to steal their products. People get mugged, murdered, etc. for Rolex watches. This all contributes to the sense of Rolex being extremely reputable. Even the alleged Patrick Heiniger/Bernie Madoff connection and the possible losses incurred by Rolex due the Madoff scandal did not tarnish Rolex... they were victimized. Rolex does everything the right way, and those who stand up for the brand, report fakes, and do all they can to ensure people are not scamming potential buyers or sellers also add to the reputation of Rolex. I can't think of a better brand. And do you ever read of employees complaining publicly about work conditions or poor treatment? Rolex has done an amazing job with public relations and public perception. And I'm not suggesting it's a smoke screen. I think they have earned a beyond reproach reputation.

[Flyfisher]

I would doubt more than 5% of the population knows that Rolex has a charitable organization as its owner. Most people just think of it as an ostentatious watch company.

[HogwldFLTR]

Rolex's declined in my eye with the fiasco with availability.

From the article:

"Even still, Rolex’s year-over-year score declined to 79.3, just shy of 80, RI’s benchmark of excellence. Its slip is a reminder of changing times."

[RolexNorth]

What, no Hermes?

[Mousehunter]

So to excellent you have to allign your company to the politics of the review staff. I think that is more closely related to terrorism than excellence

[GradyPhilpott]

Originally Posted by thomaswentworth

I think among the mass consumer base, Rolex is viewed as a philanthropic organization with the best known luxury brand name and sponsorship of high net worth events. Beyond that, they are constantly having to fight against those making illegal copies of their watches, boxes, dials, accessories, etc. They have a lengthy history, ultimate prestige, never any bad press. People rob stores to steal their products. People get mugged, murdered, etc. for Rolex watches. This all contributes to the sense of Rolex being extremely reputable. Even the alleged Patrick Heiniger/Bernie Madoff connection and the possible losses incurred by Rolex due the Madoff scandal did not tarnish Rolex... they were victimized. Rolex does everything the right way, and those who stand up for the brand, report fakes, and do all they can to ensure people are not scamming potential buyers or sellers also add to the reputation of Rolex. I can't think of a better brand. And do you ever read of employees complaining publicly about work conditions or poor treatment? Rolex has done an amazing job with public relations and public perception. And I'm not suggesting it's a smoke screen. I think they have earned a beyond reproach reputation.

Good, thoughtful response.

Originally Posted by Flyfisher

I would doubt more than 5% of the population knows that Rolex has a charitable organization as its owner. Most people just think of it as an ostentatious watch company.

I, too, think that most people are unaware of the relationship between Rolex and the Hans Wilsdorf Foundation.

Originally Posted by Etschell

only explanation is forbes editor is still on daytonac waitlist.

Forbes is just the messenger, as is WatchPro. Reputation Institute is the author of the report.

https://www.reputationinstitute.com/global-reptrak-100

Originally Posted by Mousehunter

So to excellent you have to allign your company to the politics of the review staff. I think that is more closely related to terrorism than excellence

While Reputation Institute authored the study, the results are based on a survey of nearly a quarter of a million people in fifteen countries, so I don't think it's reasonable to accuse them of terrorism.

To determine the RT100, RI surveyed more than 230,000 individuals in 15 countries from January to February 2018.

https://www.reputationinstitute.com/global-reptrak-100

Originally Posted by RolexNorth

What, no Hermes?

Who?

Originally Posted by HogwldFLTR

Rolex's declined in my eye with the fiasco with availability.

From the article:

"Even still, Rolex’s year-over-year score declined to 79.3, just shy of 80, RI’s benchmark of excellence. Its slip is a reminder of changing times."

I would bet that most of those 230,000 survey respondents have no idea that there is a even a problem with the supply of Rolex watches.

Of course, I could be wrong.

I do understand that many here are very upset about the situation.

[gliderpilot]

People increasingly rely on reviews, forums, and other social media to form their opinions. Since negative messages spread more rapidly and at higher volume than positive ones, reputation can suffer quickly (Apple's case, for example). Rolex is likely going to take a hit too, if it turns out that they artificially create shortages of popular models and it becomes widely known.

This sentence from the article summarizes it nicely:
"Ethical behavior, fairness, product value and transparency are among the most important factors in determining a company’s reputation."

[Chewbacca]

Thanks for posting GP.

[GradyPhilpott]

Originally Posted by Chewbacca

Thanks for posting GP.

[GradyPhilpott]

Originally Posted by gliderpilot

People increasingly rely on reviews, forums, and other social media to form their opinions.

This sentence from the article summarizes it nicely:
"Ethical behavior, fairness, product value and transparency are among the most important factors in determining a company’s reputation."

It's quite likely that the internet, in general, and social media, more specifically, have had an impact on public perception of nearly everything.

[gliderpilot]

Originally Posted by GradyPhilpott

It's quite likely that the internet, in general, and social media, more specifically, have had an impact on public perception of nearly everything.

And we have seen nothing yet, as the machines that enable this rapid global information sharing amongst us humans are not having any opinions of their own yet (for the most part).

Wait until the AI kicks in all aspects of our lives. Soon our biased personal uninformed opinions will become obsolete :-D

But that is a topic for a whole different thread ;-)