Corporate brands hold up a mirror to the business. What you see there reflects what you get. It's very difficult nowadays to conceal unpalatable truths from stakeholders, and the tidal wave of social media means that there is never a good day nowadays to bury bad news.

Speaking recently in London, Richard Lambert, director general of the The Confederation of British Industry (CBI) said that companies would increasingly drop their focus on maximizing shareholder value in favour of longer-term goals because of the damage the financial crisis has caused to corporate reputations. The CBI leader said: "If you concentrate on maximizing value to shareholders over the short term, you put at risk the relationships that will determine your longer-term success. One of the strongest messages coming through from our member companies is their concern about business reputation and the declining trust in business".

Mr. Lambert added: "(Our members) recognize that public confidence in business has been shaken by the events of the last two years... (and that) increasingly big payouts being awarded to top executives have also soured perceptions of company chiefs".

This message coincided with the announcement that Irene Rosenfeld, Kraft’s chairman and chief executive has been awarded a $26m (£17.2m) pay and bonus pot in part for the company’s "exceptional" acquisition of Cadbury, a much criticized deal. It also coincided with public unrest over shrinking Easter eggs. Add this to the recent revelation that Lehman Brothers had a fantasy balance sheet and that investors in Northern Rock will get nothing for their shares, and it is easy to understand why public respect for even the most venerable institutions is at rock bottom.

Deeds rather than words have always mattered most. We all understand this. But what deeds? The Kraft/Cadbury deal was all about shareholder value: Kraft shareholders picked up "exceptional" Cadbury; Cadbury shareholders—particularly the hedge funds who piled into the stock when the initial bid was made—fared very well. Never at any time was there mentioned the benefits which might accrue to consumers; all those further down the food chain got for their trouble was the unheralded closure of Cadbury's Somerdale factory.

Corporate priorities over the next few years will be about re-building trust. But trust with whom? Start with customers and employees because you will get nowhere without their goodwill; look after them "and the profits", in the words of the sage, "will look after themselves". Promise and deliver: deeds—the right deeds for the right stakeholders—will be those that will matter.

In recent years the gap between 'brand promise' and 'brand delivery' has widened. Consultants have been great at "talking the walk". Now they need to be great at "walking the talk". Forgive these awful clichés but the Americans with their unmatchable felicity, have a word (or two) for everything.

Corporate brands are being held to account. You can run but you can’t hide.