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New York, NY, United States, 2006/11/01 - Doremus, the business communications company, and the Financial Times, learned from 723 worldwide senior executives that the value equation for decision making today goes beyond price and quality. NYSE: OMC
In a global business environment where the criteria for decision-making has become more complex than ever before, the value equation is being re-defined beyond price and quality.
When price and quality are similar, ethical standards and corporate stability are important decision drivers when choosing to do business with one company over another. That’s what key decision makers in North America are saying.
Slightly fewer executives felt the same way in Asia. And in Europe, reliance on ethical standards as a decision-making factor trailed by more than twenty percentage points. A majority of Europeans feel ethics are important, but of little use as a differentiator.
Strong financial performance, as well as solid business strategy and strong management were also considered important enough criteria to break a tie between two suppliers.
Of less importance in deciding whether to choose one company over another were social consciousness factors such as: stable employee relations, environmental responsibility and support for the community.
Carl Anderson, President and CEO of Doremus, said, “In general, senior executives agree that when price and quality are similar, other corporate attributes become important when choosing suppliers. ‘High ethical standards’ ranks top of that list followed by ‘strong corporate management.’ Companies might keep this in mind when defining their corporate brand image.”
About the Financial Times
Financial Times is one of the world's leading business information brands, internationally recognized for its authoritative news, comment and analysis. Whether in print or online, the Financial Times is essential reading for the global business community.
Printed at 24 sites worldwide, the Financial Times newspaper has a daily circulation of over 434,000 and a readership of more than 1.5 million people worldwide. FT.com is one of the world's leading business information portals, and the Internet partner of the Financial Times. FT.com has 5 million unique monthly users that generate more than 45.7 million monthly page views.
Doremus is known for its understanding of complex, considered decisions, multiple target audiences, and identifying the best communications channels to magnify budgets at all levels. Over 100 years old, with offices in the key business centers of the world, Doremus is constantly evolving to meet the marketing communications needs of business. Doremus is a member of the Omnicom Group.
Omnicom is a leading global advertising, marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, direct, and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.