openPR Logo
Press release

BBB Updates Grading Scale

Formula Uses 16 Factors to Grade Businesses

RALEIGH, N.C. (January 11, 2009) – The Better Business Bureau (BBB) of Eastern North Carolina (bbb.org) announces today it is launching improved BBB Reliability Reports™, which include a more detailed A+ through F letter-grading system replacing the previous ratings scale of “satisfactory” or “unsatisfactory.”

BBB provides reports on more than four million businesses online and free of charge at www.bbb.org. The new letter-grades are prominently displayed to help consumers more quickly identify and compare the reliability of businesses.

“Given the tough economic conditions, consumers can’t afford to make bad buying decisions and are looking for more detailed information about businesses,” says Beverly Baskin, president and CEO of the Better Business Bureau of Eastern North Carolina. “BBB’s improved reports provide detailed insight into a business’s track record based on in-depth research and consumer reported experiences.”

BBB’s proprietary ratings formula takes into account 16 weighted factors, using objective information and actual incidences of a business’s behavior that have been verified and evaluated by BBB professionals. Ultimately, a letter-grade rating represents BBB’s degree of confidence that a business is operating in a trustworthy manner and will make a good faith effort to resolve any customer concerns.

The rating takes into account whether the business model and industry violates the law, misrepresents products and services, is likely to generate trade practice concerns, and/or has high levels of customer dissatisfaction.

Additional operation-specific rating factors are:

• The type of business and its business model
• How long the business has been operating
• The extent of background information available to BBB for evaluation
• Whether the business has appropriate competency licensing
• The extent to which BBB is able to develop a clear understanding of the business
• Any advertising issues found by BBB
• Government actions against the business
• Whether the business has attained BBB Accredited Business status
• An overall complaint analysis
o Total volume of complaints filed against the business
o The number of serious complaints
o The number of unanswered complaints
o The number of complaints with delayed resolution
o The number of unresolved complaints
• Whether the business has honored any mediation/arbitration commitments
• Whether the business has had its BBB Accreditation revoked

“BBB has been providing information people can trust for nearly 100 years,” adds Baskin. “BBB Accreditation and letter-grade ratings are valuable new resources consumers can start with when looking for trustworthy businesses.”

For more information, visit www.bbb.org.

# # #

About BBB of Eastern North Carolina:
The Better Business Bureau of Eastern North Carolina is a 501 (c)(6) not-for-profit corporation serving 33 counties in eastern North Carolina. The organization is funded primarily by BBB Accredited Business fees from more than 3,200 local business and professional firms. The BBB promotes integrity, consumer confidence and business ethics through business self-regulation in the local marketplace. Services provided by the BBB include, reports on companies and charitable organizations, general monitoring of advertising in the marketplace, dispute resolution services, and consumer/business education programs. All services are provided at no cost to the public, with the occasional exception of mediation and arbitration. Visit www.bbb.org.

BBB of Eastern North Carolina
5540 Munford Rd., Ste. 130
Raleigh, NC 27612-2655

Beverly Baskin
919.277.4202
bbaskin@raleigh.bbb.org

Media Contact
Cindy Stranad
919.232.5008
cindy@articulon.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release BBB Updates Grading Scale here

News-ID: 64592 • Views:

More Releases from BBB of Eastern North Carolina

BBB Warns of Scammers Misrepresenting "Cash for Clunkers" Program
RALEIGH, N.C. (August 5, 2009)—Better Business Bureau serving Eastern North Carolina (bbb.org) is warning consumers to be wary of e-mail and phone calls attempting to exploit consumer curiosity about the "Cash for Clunkers" program. The Car Allowance Rebate System—also known as Cash For Clunkers—is a government program that gives people a $3,500 to $4,500 discount when they trade in an older, less fuel efficient vehicle to purchase or lease a newer,
BBB Warns of Extended Auto Warranty Companies
Local Complaints Continue Against National Vendor, USfidelis RALEIGH, N.C. (July 28, 2009)—Better Business Bureau of Eastern North Carolina (bbb.org) announces today it has seen an increase in complaints and inquiries concerning one of the largest auto warranty companies in the United States. From April 7 through July 20 of 2009, consumers have filed 206 complaints against USfidelis. For the same period last year, consumers filed 132 complaints against the company. In the
Courtney Smith Joins BBB of Eastern North Carolina
Serving as Communication and PR Specialist RALEIGH, N.C. (July 21, 2009)—Better Business Bureau of Eastern North Carolina (bbb.org) announces today the appointment of Courtney Smith as its communication and public relations specialist. In this role, Smith is responsible for working with the public and media, developing educational videos and other new media applications, as well as planning and executing special events and community activities. She joins BBB after serving as community
BBB Warns Consumers About Loan Scam
Company Using a Vacant Winston-Salem Address RALEIGH, N.C. (July 7, 2009)—Better Business Bureau of Eastern North Carolina (bbb.org) is warning consumers about an advance-fee loan company that is targeting individuals, via the internet, who have poor credit history and difficulty obtaining traditional loans. Consumers are reporting that Bloomfield Lending Group is using a vacant Winston-Salem, N.C. address and claiming to have been in business for 10 years. According to the property manager

All 5 Releases


More Releases for Business

Business Consulting Company, Business Consulting Firm, Business Consulting Servi …
The market research is an essential portion of any business strategy and primarily comprises of the data collecting about the markets and consumers in those markets. In recent’s globalized business surroundings, effective market research is a critical portion of any business’s efforts to compete successfully. At Ken Research, the market research services support businesses identify growth opportunities and form a competitive strategy reliant on the deep understanding of consumers and
Business to Business Media Market 2019 Business Scenario – Bloomberg, IBM, Ora …
A new Profession Intelligence Report released by Stats and Reports with the title Global Business to Business Media Market "can grow into the most important market in the world that has played an important role in making progressive impacts on the global economy. Global Business to Business Media Market Report presents a dynamic vision to conclude and research market size, market hope and competitive environment. The study is derived from
Business to Business (B2B) Telecommunication Market Prolific Business Methodolog …
B2B telecommunications is a form of communications that takes place between companies in different forms such as text, voice, video, emails, and among others. B2B telecommunication providers maintain systems that transmit data, text, sound, and voice and video, which facilitates direct communication between businesses. Telecommunications platforms can also be utilized by marketers in order to boost a company's visibility within the industry and identify networking opportunities. Request For Customization of Research
Business Alliance Market Growing Dynamically with Leading Top Key Players like B …
A business alliance is an agreement between businesses, usually motivated by cost reduction and improved service for the customer. Alliances are often bounded by a single agreement with equitable risk and opportunity share for all parties involved and are typically managed by an integrated project team. An example of this is code sharing in airline alliances. The Global Business Alliance Market 2019 research provides a basic overview of the industry including
Global Interferon Market Business Growth, Business Opportunities, Business Outlo …
Albany, NY, USA / 16 Oct 2018: - A New fresh research report presented by KD Market Insights provides a detailed analysis of “Global Interferon Market Size, Trends, Opportunity and Forecast to 2023” research report will include all the major trends and technologies that play an important role in market growth in the predicted span of 6 years. It also presents the overview of industry players, advantages, challenges the business
Global Intramuscular Immune Globulin Market Business Growth, Business Opportunit …
Albany, NY, USA / 16 Oct 2018: - A New fresh research report presented by KD Market Insights provides a detailed analysis of “Global Intramuscular Immune Globulin Market Size, Trends, Opportunity and Forecast to 2023” research report will include all the major trends and technologies that play an important role in market growth in the predicted span of 6 years. It also presents the overview of industry players, advantages, challenges