Burson-Marsteller commissioned research firm Penn, Schoen & Berland to survey more than 4,500 people in Denmark, Finland, Norway and Sweden. The Nordic Corporate Reputation Study identifies the key drivers of corporate reputation in the Nordics and ranks the top 100 Nordic companies across a range of metrics from trust and responsible behavior to innovation, leadership and financial performance. For comparison and benchmarking purposes, a number of leading international companies were included in the research. The resulting Purpose & Performance Index shows that customer service, treating employees well and engaging with local communities are all key drivers of trust and help turn Nordic customers into brand advocates.

1. Ikea, Google and Microsoft Top In-
Cteorrnpaotriaotnea Rle Bpruatnatdios n
in the Nordics
Leading With Purpose
www.bmnordic.com

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With a total population of around 25 million,
the Nordic market constitutes the eleventh largest
economy in the world. It is renowned for big,
established brands such as Lego, Nokia and Volvo
and - thanks to high levels of internet penetration
and entrepreneurial activity - has also recently
spawned a new generation of tech companies such
as Skype and Spotify. The region is a stronghold
of the oil and gas industries as well as clean tech-nologies
and renewable energy.
In a period of prolonged economic uncertainty,
where trust in corporations is generally low and
consumers are looking for reassurance that cor­porations
are playing their part as responsible
citizens, we set out to discover what drives
corporate reputation in the Nordics.
We asked over 4500 people from Denmark, Finland,
Norway and Sweden what is important to them in
their roles as consumers, employees, investors and
not least citizens. We also asked them to rate the
top 100 Nordic companies across a range of metrics
from trust and responsible behaviour, to innova-tion,
leadership and financial performance.
For comparison and benchmarking purposes, a num-ber
of international and additional Nordic compa-nies
from key sectors were included in the research.
The link between economic challenges and corpo-rate
responsibility is clear. There is a perception that
companies do not pay their fair share of taxation
and the demand for companies to give back to
society in other ways is high across all countries.
Our findings confirm that having a clearly defined
Corporate Purpose helps to build trust and a com-petitive
advantage among Nordic stakeholders.
Good customer service, treating employees well
and engaging with local communities are all key
drivers of trust and what turns customers into
brand advocates. Research shows that a strong and
well communicated Corporate Purpose can also
impact financial performance up to 17%[1].
We hope that this Nordic market insight will help
companies understand what drives corporate
reputation in the Nordics and how to balance
Purpose and Performance in their communications.
Introduction
[1] IMD’s regression analysis on industry standardised return on investments
over two five-year periods (2205-2009 and 2007-2011).
PURPOSE
Trust
Advocacy
Responsible Behaviour
Public Image
Good Employer
Environmental
Responsibility
Positive Contribution
to Community
PERFORMANCE
Products and Services
Financially Strong
Innovation
Strong Leadership
Communicates in
a relevant way

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Part 1
Corporate Rankings

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Purpose & Performance Index – TOP 10 Nordic Companies
Top 10 Nordic COMPAEINS PURPOSE PERFORMANCE Taotl Sceor
Tine
2.01
1.58
1.80
1.50
1.27
1.38
Norsk Tipping
1.54
1.89
1.72
Lego System
1.52
1.24
1.38
Valio
1.47
1.81
1.64
Novo Nordisk
Arla
1.16
1.43
1.30
1.47
1.56 1.52
Carlsberg
1.31 1.28 1.30
KONE
1.60
1.28
1.44
SOK/S-ryhmä
1.24 1.28 1.26
Volvo
PURPOSE
Trust
Advocacy
Responsible Behaviour
Public Image
Good Employer
Environmental Responsibility
Positive Contribution
to Community
PERFORMANCE
Products and Services
Financially Strong
Innovation
Strong Leadership
Communicates in
a relevant way
When asked to rank the top 100 Nordic companies
on a range of metrics from trust and responsible
behaviour to leadership and financial performance,
Norwegian dairy producer Tine came out top
overall, scoring particularly well on Purpose metrics.
Danish toy company Lego was rated top on
Performance. Only one Swedish company, Volvo,
made it into the top 10 list.
Danish companies score highly on both
Performance and Purpose, with a tendency
to rate better on Performance.
Finnish and Swedish companies tend to do slightly
better on Purpose metrics than Performance.
Norwegian companies do very slightly
better on Performance ratings than Purpose.

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Purpose & Performance Index – Across all Sectors
Consumer facing sectors such as manufacturing,
technology, food and drink, and retail score best
by far on the Nordic Purpose & Performance Index.
Among the international companies included in the
research for benchmarking purposes, the technology
sector also tops the ranking.
It is worth noting that the manufacturing and tech-nology
sectors score particularly well on Performance
metrics, whereas retail and food and drink companies
are seen to have a stronger Corporate Purpose.
As a sector, ‘business services’ is ranked lowest on
the Nordic Purpose & Performance Index. Energy,
construction, finance and telecoms are also sectors
that do less well. The biggest discrepancy between
Purpose and Performance is for the telecom sector
which is rated particularly poorly on Corporate
Purpose. Nordic telecom companies score low on
trust, public image, responsible behaviour and their
consumers are not prepared to act as advocates.
ALL SECTORS
-0.17-0.19
-0.22
-0.19
Shipping/
Logistics
Paper/
Oil and gas Forestry
Manu­facturing
Technology
-0.29-0.31
Food and
drink Retail Telecoms Financial
PURPOSE PERFORMANCE Total Score
-0.42
Con­struction
-0.45
Energy
-0.77
Business
Services
0.07
-0.05
-0.17
-0.07
-0.31
0.41
0.34 0.38 0.35 0.38 0.37 0.33 0.29 0.31 0.27
0.11
0.19
-0.5
-0.11
-0.31 -0.34
-0.36
-0.48
-0.57
-0.51
-0.7
-0.83
TOP SECTORS* BOTTOM SECTORS*
*Nordic companies only

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INTERNATIONAL COMPANIES SCORE BETTER ON PERFORMANCE
When benchmarking against the international
com­panies
included in the research it becomes
apparent that, whereas Nordic companies are
generally seen as strong on Purpose driven metrics
such as trust, non-Nordic brands score best on
Performance related metrics like innovation
and financial strength.
Ikea tops the list, being perceived across the Nordics
as financially strong, innovative and a company
that communicates well with its customers.
Although not headquartered in the region, Ikea
is still perceived as Swedish and is popular in all
four Nordic countries. Swedish stakeholders still
describe Ikea as a “leading Swedish company”.
Technology companies generally score highly on
the Purpose & Performance Index because they are
seen as financially robust and as having a well-developed
products and services offering. They are
also perceived as having a strong public image but
being weak on environmental responsibility and
not viewed as “caring about the environment”.
“Companies need to think more
than just about maximizing profits.
They need to pay taxes in the coun­try
they’re working in, not hiding
it away.”
“ I want to know that the company
remains active in the community,
using the profits to reinvest. This is
an easy way to contribute to where
they are active.”
sweden
FINLAND

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Part 2
Corporate purpose
and leadership

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Corporate purpose drives trust
Good customer service, treating employees well
and engaging with local communities are all key
drivers of trust. Not surprisingly, the most trusted
companies within each market tend to be domestic.
This is also true when comparing Nordic and inter-national
companies where we see Nordic companies
outperforming international ones thanks to higher
Purpose scores.
TOP 5 MOST TRUSTED COMPANIES BY MARKET
1
2
3
4
5
Denmark
Lego
Carlsberg
Coop
Novo Nordisk
Mærsk
Finland
Fazer
Kone
OP-Pohjola
Valio
SOK/S-ryhmä
Norway
Tine
Norsk Tipping
Coop
Gjensidige Forsikring
Posten Norge
Sweden
ICA
SKF
Arla
Scania
Volvo
“The company must operate
openly and honestly in accordance
to its values. It should treat its
employees well and be honest
with its customers.”
“Trusting means that the company
is open and honest about its
finances, and also has a reputation
as a good employer”
Norway
FINLAND
MOST TRUSTED NORDIC
COMPANIES
1. Tine
2. Carlsberg
3. Norsk Tipping
4. OP-Pohjola
5. Lego

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Purpose Three Times More Important Than Financial Performance
Two thirds of Nordic stakeholders believe that
the CEO should be the public face of a company
and that CEOs need to have a strong profile both
internally and externally.
Among those that feel that CEOs should have
a strong profile, Corporate Purpose and vision
were identified as the issues CEOs should be most
concerned about both inside and outside of their
organisation. In fact, communicating a company’s
Purpose and core values are deemed to be more
than three times as important as communicating
a company’s financial performance.
Danish companies are seen as having particularly
strong leadership among Nordic stakeholders.
Companies with
strong leadership
1. Maersk
2. Novo Nordisk
3. Lego
4. Reitangruppen
5. Statoil
Which of the following
is closer to your view?
CEOs do not need to be
well known outside of
their own company
62 %
CEOs should be the public face
of a company: they need to
have a strong profile internally
and externally
38 %
“Good leaders should not only
think in terms of profit, but
should position the company
to be part of the community,
and act to the society’s
benefit.”
Norway
“Company leaders must be
responsive – inform the
employees and then the media.
They should be unafraid to
apologise when there are
errors and not let subordinates
take the hit for them.”
Sw eden

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Sustainability is more than just the environment
The environment is an important issue for the
Nordic public and nearly 80% of stakeholders across
the region say that they are concerned about the
environmental impact of companies.
But they also agree that, for a company, sustainability
is more than just being environmentally friendly.
Good working conditions, contributing to the local
community, less focus on quarterly earnings and
more of a long-term view on financial performance
are all definitions of sustainability.
Top 5 companies by topic
1
2
3
4
5
Vestas
Coop
Tine
Valio
SOK/S-ryhmä
Tine
Norsk Tipping
Coop
Posten Norge
SOK/S-ryhmä
Coop
Tine
Novo Nordisk
Norsk Tipping
Lego
Seen to care about
the environment
Making a positive
contribution to the
communities where
they operate
Behaving in a
responsible manner
“A company should make
sure that it does not harm
the environment in the short
and long term. Environmental
considerations in particular
should be taken into
account for the life cycle
of products.”
Sw eden

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Part 3
Consumer insight

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Clear link between economic challenges and corporate responsibility
Our research shows that Danes and Norwegians
are more positive about the state of their nation
than Swedes and Finns. Over half of Danes think
their country is heading in the right direction
compared with just one fifth of Finns. Danes and
Norwegians are also more positive about the
economy while only 13% of Finns feel their economy
is going in the right direction.
The link between economic challenges and corpo-rate
responsibility is clear. In Finland particularly
there is a perception that companies do not pay
their fair share of taxes.
Across the Nordics, there is a demand for com­panies
to give back to society. Two thirds feel that
companies have a responsibility to contribute
to local communities and overall this is one of the
metrics that the companies included in this survey
performed worst on.
Contributing to the community can, however, take
many forms. Respecting the local environment,
creating new jobs, paying taxes and contributing
to charities are all important.
Top 5 companies that ‘make a positive contribution’ by market
1
2
3
4
5
Denmark
Lego
Coop
Carlsberg
Mærsk
Nortura
Finland
Fazer
Valio
SOK/S-ryhmä
KONE
OP-Pohjola
Norway
Tine
Norsk Tipping
Posten Norge
Statoil
Coop
Sweden
ICA
Arla
SCA
Volvo
SKF/Scania/Ericsson/Skanska
Top Nordic Employers
1. SOK/S-ryhmä
2. KONE
3. Novo Nordisk/Valio
4. Tine/Lego
5. Carlsberg

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The nordic Consumer
40 %
Somewhat
important
30 %
Not very
important
15 %
Not at all
important
14 %
Very important
Can you think of
any companies that
are particularly good at
utilising social media?
How important do you think it
is for a company to have a strong
presence on social media?
Overall Nordics
A company’s values are important for the Nordic
consumer who is willing to pay a premium price
for a product or service from a company they view
as responsible. A quarter of Nordic consumers say
they have advised someone to use or buy products
from a company because it has acted responsibly.
41% of Nordic consumers would like companies to
engage with them on the issues they want to hear
more about: mainly the companies’ commitment to
social responsibility and the wider impact they have
on society and the economy. Social media is an effec-tive
tool for customer engagement and Ica, Telenor
and Ikea are companies that are seen as particularly
good at utilising social media for engagement.
“Engaging with me is how I become
familiar with a company and its values
and practices – and makes me more
likely to be loyal to them.”
Norway

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FIVE Tips for Effective Communication in the Nordics
1. Define And Communicate
Your Corporate Purpose
Corporate Purpose has evolved from Corporate
Social Responsibility (CSR) and sustainability and
is today a distinct concept in itself. Whereas CSR
is often seen as a bolt-on to a company’s core
business, Purpose cuts across all business func-tions.
Part of a company’s DNA and its raison
d’être, Purpose guides and informs the basis of
the mission, vision and values of a company.
2. Walk The Talk
Corporate Purpose is key for both internal and
external communication, however the Purpose
comes first, it is not a communications tool. Pur-pose
is central to strategy development and guides
business decisions, allowing companies to take
a holistic view and strategically align values,
organisational culture and operations. This helps
to avoid any disconnect between what companies
say they do and how they actually operate. It also
helps avoid accusations of “greenwashing”.
3. Maximise CEO Profile
Internally and Externally
There is a growing demand from consumers,
employees, investors and other stakeholders for
CEOs to be the public face of a company and to
have a strong profile both internally and externally.
A company’s Purpose and values are seen as the
key issues a CEO should be most concerned with
communicating both inside and outside the
organization.
4. “Localise” Communication
The 25 million people that make up the Nordic
market are culturally and linguistically close to one
another. The Nordic public also shares core values
and beliefs around the role of companies in today’s
society. However, as our research shows, the most
trusted companies within each market tend to
be domestic: communicating in local language,
engaging with local communities, treating employ-ees
well and having good customer service.
5. Use Social Media
For Customer Engagement
Nordic stakeholders want companies to engage
with them, but not just for advertising and promo-tional
purposes. Social media is an excellent tool
for engagement if used correctly. As a first step,
ensure that your own social media channels are
used for discussions and dialogue rather than
promotion. As a next step, participate in all the
other discussions taking place on the web around
your products and brands.
“Performance with a Purpose is
based on the belief that companies
can – and must achieve business
and financial success while also
leaving a lasting and positive
imprint on society”
Indra Nooyi, C hairman, Pe psiCo

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Methodology
Burson-Marsteller commissioned
leading research firm Penn
Schoen and Berland to under-take
an online quantitative
survey of 4531 people in the
Nordic region between July
and September 2014. Quotas
were set for gender, age
and region to ensure that
the sample is representative
of each population.
To find out more about
your company’s Purpose
& Performance ranking,
please contact:
Sara Alsén
Managing Director,
Strategy Nordic Region
sara.alsen@bm.com
+46 (0)761107057
The following companies are included in the research

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Burson-Marsteller, established in 1953, is a
leading global public relations and communications
agency with unrivalled presence and expertise in the
Nordic region. Our teams of experienced consultants
in Copenhagen, Helsinki, Oslo and Stockholm work
closely together on a day-to-day basis to provide
clients with strategic insight and innovative public
relations, public affairs, reputation and crisis manage-ment,
digital strategy, advertising and other commu-nications
services. Having wholly-owned offices in all
Nordic countries, not only sets Burson-Marsteller
apart from the competition but ensures that we can
deliver seamless communications services across
the region. Worldwide, Burson-Marsteller operates
in 110 countries across six continents.
www.bmnordic.com
Penn Schoen Berland (PSB), a member of­Young
& Rubicam Group and the WPP Group,
is a global research-based consultancy that
specialises in messaging and communications
strategy for blue-chip political, corporate and enter-tainment
clients. PSB’s operations include over 200
consultants and a sophisticated in-house market
research infrastructure with the capability to
conduct work in over 90 countries. The company
operates offices in Washington, D.C., New York,
London, Seattle, Los Angeles, Dubai, Delhi, Miami,
The Dominican Republic and Denver, which are
supported by an in-house fielding capability and
are fully equipped to provide the complete
creative solutions PSB clients need.
www.psbresearch.com

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1306 København K
Tel: +45 3332 7878
Mail: info.dk@bm.com
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00101 Helsinki
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Mail: info-pbm@bm.com