When someone votes, how in-depth are they researching? Mostly skin deep. How well do they know worker safety, HR issues, environmental protection, food safety, levels of insurance, levels of ethics, and a whole host of other concerns. These items are currently very hard to determine, not just with the company you know, but also their competition. Many will claim that much of this is not their business, that they just want the product or service. However, if people knew that employees worked in a dangerous environment, animals were routinely harmed, the disabled were not even given a chance, unnecessary polluting was not corrected or a host of other ills unseen by the consumer, many would choose another business that had better records on these issues.
The structure of the system currently is that information is highly valuable to consumers however seldom collected and analyzed properly. My rating system creates valuable knowledge that is easily disseminated widely. With mandated signs and cell phone apps all business could scrutinize every decision; currently the knowledge that would affect their overall rating is hidden. Every business will be in competition for the best rating on all the sectors of the business and will soon realize that there would have to discount their prices to compensate for lower ratings.