Majority Of Icelandic Managers Believe Business Environment Immoral - The Reykjavik Grapevine

Majority Of Icelandic Managers Believe Business Environment Immoral

Published April 28, 2011

Seven out of ten of the managers of Iceland’s largest companies believe the business environment in this country is immoral, and lacks trust, transparency and professionalism.
According to a poll conducted by Market and Media Research, and published in the business journal Viðskiptablaðið, 630 individuals from 450 companies responded to the poll. Respondents were asked for their opinion on the state of a number of qualities in the Icelandic business world. There was no significant difference between genders in how people responded.
Of those polled, 68% believed that a sense of morality in Icelandic business was either rather bad or very bad. Only 7.1% said that morals were in good shape among the country’s capitalists. 74.6% believe that trust between parties was in a bad state, and 74.8% believe that there is little to no transparency among Icelandic corporations.
In fact, the general outlook that Icelandic capitalists have on Icelandic business is so bad that the closest thing to a “good” result in the poll was in the area of professionalism: 45.3% believe there is a great lack of professionalism in the country’s business world, while 16.5% believe it is either in a rather good or very good state, and 38.2% believe professionalism is in neither good nor bad shape.
Despite this dark view of the Icelandic business world, the majority (58%) believe that things will develop for the better over the next 12 months.


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