Trust - The new ROI
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Transcript of Trust - The new ROI
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Trust
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Three Categories of Trust
Government (national & economic)
Organizational (brand)
Individual (relationship)
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Francis Fukuyama
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Fukuyama’s Theory:
On a macro level societies can be divided into two categories: low trust and high trust:
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Fukuyama’s Theory:
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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
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Global Corruption
Source: Transparency International
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The Inequality Trap
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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:
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Inequality Globally
Source: UN Human Development Report
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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
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“Trusters” Innovate
More trusting countries are considerably more likely to be innovative
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“Trusters” Embrace Technology
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Organizational (Brand)Trust
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Brand Trust & Reputation
Companies spend substantial amounts of money to get your attention and gain your trust
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Social MediaIn the world of social media = Trust
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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
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Sometimes things go terribly wrong
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Individual (Relationship)Trust
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The Circle of Trust
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Personal Communication
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What’s Really Happening When We Communicate?
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EVP Around the WorldTop 3 Attributes
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To Build Trust
Deliver results “Do what you say” Act Selflessly
Act ConsistentlyExceed
Expectations
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The Dumb Tax
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Parting Thoughts
Don’t Rush In
Do Your Homework
Embrace and Celebrate the Differences
Adapt
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THANK YOU!
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APPENDIX
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http://www.globaltalentbarometer.com
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Wanted Analytics
www.wantedanalytics.com
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Culture Wizard
http://rw-3.com
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The Speed of Trust