Trust

Three Categories of Trust

Government (national & economic)

Organizational (brand)

Individual (relationship)

Francis Fukuyama

Fukuyama’s Theory:

On a macro level societies can be divided into two categories: low trust and high trust:

Fukuyama’s Theory:

Trust, Business, & Globalization

Globalization depends upon well regulated markets--the rule of law

These factors make businesses less willing to invest in a country--and works against globalization

High Levels of Corruption

Weak Property Rights,

Unenforceable Contracts

Unfair Legal System

Global Corruption

Source: Transparency International

The Inequality Trap

The Inequality Trap

The stability of trust, corruption, and inequality--and the strong interconnections among them suggests that it will not be easy to build up trust or to end corruption

To build trust, we need to focus on two key issues:

Inequality Globally

Source: UN Human Development Report

The Rise and Fall of a Computer Empire

1990 - Dr. Wang dies and his son Fred takes over as CEO

1980s - Wang annual sales reached $3 billion with 33,000 employees

1992 - Wang files for bankruptcy

1951 - Dr An Wang founded

“Trusters” Innovate

More trusting countries are considerably more likely to be innovative

“Trusters” Embrace Technology

Organizational (Brand) Trust

Brand Trust & Reputation

Companies spend substantial amounts of money to get your attention and gain your trust

Social Media In the world of social media = Trust

Corporations Don’t Always Get It Right

The Coca-Cola name in China was first read as “Kekoukela“, meaning “Bite the wax tadpole” or “female horse stuffed with wax”, depending on the dialect

Pepsi’s “Come Alive With the Pepsi” translated into “Pepsi Brings Your Ancestors Back From the Grave” in Chinese

Sometimes things go terribly wrong

Individual (Relationship) Trust

The Circle of Trust

Personal Communication

What’s Really Happening When We Communicate?

EVP Around the World Top 3 Attributes

To Build Trust

Deliver results “Do what you say” Act Selflessly

Act Consistently Exceed Expectations

The Dumb Tax

Parting Thoughts

Don’t Rush In

Do Your Homework

Embrace and Celebrate the Differences

Adapt

THANK YOU!

APPENDIX

http://www.globaltalentbarometer.com

Wanted Analytics

www.wantedanalytics.com

Culture Wizard

http://rw-3.com

The Speed of Trust