Five Ideas:
Trust
August 2009
“Rebuilding trust is the key to ending the recession. Consumers must regain trust to buy houses and cars again, which will fuel the real economy and restore the financial system. The path to trust is transparency; which is exactly what organizations should invest in." —Frank Buytendijk, VP of Oracle EPM
“This is not a call for the world to open up their business doors, and it’s not a call to tap every phone line of every executive: There are lots of times when private business is private business. Instead, we're saying, 'Just be human and open with us as you’re doing business.'" —Chris Brogan, co-author of Trust Agents: Using the Web to Build Influence, Improve Reputation, and Earn Trust
“According to the Institute for Corporate Productivity, a full 40 percent of low-performing companies feel their organizations do not nurture trust, while only 16 percent of respondents from high-performing companies feel the same. When employees feel they do not have an environment where they can trust others, especially the leadership, productivity and morale spiral downward. So it’s no surprise that those who report higher levels of trust also rate their companies as high-performing." —Claire Carradice, Service Excellence Operations Analyst, Siemens IT Solutions and Services
“It starts with what Jack Stack, the CEO at SRC Holdings, calls 'open book management.' What this means is that leaders have to understand there are very few secrets that need to be or should be kept in an organization. The only legitimate secrets are those having to do with individual privacy, or the development of a new product or strategy. When people understand what’s going on and why it’s going on, trust tends to be greatly increased." —James O'Toole, the Daniels Distinguished Professor of Business Ethics at the University of Denver's Daniels College of Business
“What's happening that's more significant than anything else, is the relationships we have with our customers are changing, that our customers no longer trust vendors, that our customers are increasingly looking to interact with people like themselves, that they see a lot more trust and a lot more importance in the opinions of other people like them... Social CRM has to take advantage of this Web 2.0 phenomenon, really the ability for people to correspond electronically, to meet people who look like themselves, to meet people they know and maybe some people they don't know."—Anthony Lye, senior vice president of Oracle CRM
