Trust Digest 3 (May 11, 2013)

Disaster singes fashion ethics
It's indicative of the chaos of today's fashion supply chain that many brands don't know where they are producing. An order might be placed in a first-tier factory that ticks all the auditor's health and safety boxes. But, according to Doug Miller, emeritus professor of supply chain ethics at Northumbria University: "Factory owners can't make money on the original order - the price has been set too low - so will therefore find someone who can," subcontracting to producers of ever-declining standards.
Key Words: Fashion Ethics
Trust Issues: Integrity, Ethics, Transparency, Responsibility, Reputation, Accountability

Reputation Risk Management -- It's Time to Build Trust and Resilience at the Top
Corporate governance issues and crises have sparked a steep rise in reputational risk as trust in business continues a decade-long erosion. And good business practices alone won't remedy it. Challenges to a company's reputation arise from a specific business decision or practice. To manage that reputation successfully requires the active leadership of the ceo with the board of directors serving as avid monitors.
Key Words: Reputation Risk-Management Process, strategic sophistication
Trust Issues: Transparency, Responsibility, Reputation, Accountability

Seeking Sustainability
There's little to debate about the enormous impact our commercial culture has had on our planet and its costly toll on the environment. But there is much to debate about how our culture of excess consumerism and materialism can be transitioned into one of more efficient restraint and responsibility.
Key Words: Sustainability, Consumerism, Materialism
Trust Issues: Transparency, Responsibility, Reputation, Accountability

Amazon Earns Customer Loyalty With Integrity, Not Rewards
I wonder why companies spend billions annually in attempts to create loyalty, when the only way to achieve it is by running businesses honestly, fairly, and transparently. Everything else is just marketing.
Key Words: Customer Loyalty
Trust Issues: Integrity, Ethics, Transparency

The Dark Side Of Reputation Management: How It Affects Your Business
It seems there is much currently happening that is unseemly and even illegal in the world of ORM (Online Reputation Management).
Key Words: ORM (Online Reputation Management)
Trust Issues: Integrity, Ethics, Transparency, Responsibility, Accountability

The Right Way To Execute Your Strategic Plan
It’s no secret that most strategic plans fail to deliver their intended results. Often, the problem isn’t the strategy, but how it’s implemented.  Many leaders erroneously conclude that the answer is simply to drive the organization harder and ‘put their feet to the fire.’  Here are three keys to successfully implementing strategy and achieving your goals without causing burnout.
Key Words: Strategic Plans
Trust Issues: Transparency, Accountability, Communication, Responsibility

Chevron CEO ordered to testify in fraud case against Ecuadoreans
A judge on Tuesday ruled that Chevron Corp's chief executive must testify in the U.S. oil company's fraud case against Ecuadoreans seeking to collect on a $19 billion judgment against Chevron related to rainforest pollution.
Key Words: Fraud, Environmental Damage
Trust Issues: Responsibility, Accountability

Bangladesh disaster responses highlight PR strategies at clothing brands, risks to reputation

Global clothing brands involved in Bangladesh’s troubled garment industry responded in starkly different ways to the building collapse that killed more than 600 people. Some quickly acknowledged their links to the tragedy and promised compensation. Others denied they authorized work at factories in the building even when their labels were found in the rubble. Communications professionals say both are public relations strategies and neither may be enough to protect companies from the stain of doing business in Bangladesh.
Key Words: Public Relations Strategies
Trust Issues: Responsibility, Accountability, Transparency

Want My Trust? Then Risk Your Arm First

Negotiators typically lose up to 42% of a deals’ potential value due to distrust and a zero-sum (I win when you lose) mindset. Conversely, when trust is high, transactional costs go down, the sales cycle shortens, and profits increase. Trust has real economic value which we refer to as Tru$t Currency™.
Key Words: Distrust And A Zero-Sum Mindset, Tru$T Currency, Leadership, Vulnerability
Trust Issues: Ethics, Integrity, Transparency, Communication

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