Coming clean -- the overarching theme for next year's annual reports, now in planning stages -- may be a significant departure for some CEOs, who've preferred to gloss over bad news.
That won't fly this year, when annual reports will have to offer greater honesty at every level to a diverse group of readers.
It's March 20 and the annual report is in the mail.
Surprisingly (or perhaps not), the answer is often "no." Even major corporations that spend six months and upwards of a half million dollars to produce a glossy, eight-color annual report tend to rely on "anecdotal feedback" to gauge the success of their efforts.
annuals. Support for the report theme comes in the words of CEO Peter Job: "For many years now, we have been using photographs from our news pictures service on the pages of our annual report.
But while overall content of annuals has improved dramatically, honesty regarding financial returns hovers near the record low: 87 percent.
STUDIES, LITTLE RESEARCH WAS FOUND ON THE IMPORTANCE OF ANNUALS TO INSTITUTIONAL INVESTORS OUTSIDE THE U.S.
Annual reports, the 'Rodney Dangerfields' of corporate communication, earn surprising respect from institutional investors.
In this year's review, contributing editor Sid Cato looked at 65 annuals from companies based in Canada, Mexico, the U.K., Germany, Sweden, Denmark, Norway, Japan, Australia, New Zealand, the Philippines, Pakistan, Poland, Africa, and Switzerland.
It's getting harder and harder to find bad annual reports - an indication, perhaps, that more CEOs are actively involved in creating them.
A year ago, Dallas-based Coda Energy made the list of world's worst annuals for accepting - nay, soliciting - advertisements from its various vendors.
Contributing Editor Sid Cato's copyrighted criteria for judging the best and worst annuals are based on a 135-point-maximum scorecard that rewards those possessing the following characteristics:
On the bright side, a handful of annuals
appear in electronic form, that is, on CD-ROM.
The comely report by Carmel, IN-based Conseco is one of five annuals
worldwide to be produced in-house.
The probable reason: Annuals
produced abroad aren't required to adhere to the same criteria as companies under the purview of the U.S.