Building Trust Archives - Page 11 of 12

Wikipedia: The Free Encyclopedia | The Trust Edge

1 August 2012

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Categories: Building Trust, Consumer Trust, David Horsager, Trusted Company, Trusted Company of the Month

When trust is lost, there is little time to lose. Discern the situation, and then quickly make a plan to rebuild it. Wikipedia thrives today because the company made haste to rebuild lost trust after the John Seigenthaler incident. In November 2005, it came out that an untrue and potentially libelous statement in the biography of John Seigenthaler, a famous journalist, had gone unnoticed for months on Wikipedia. Seigenthaler wrote a fairly scathing editorial in the New York Times criticizing Wikipedia as a “flawed and irresponsible research tool.”2 Since Wikipedia is open-source, deriving its value from the trust people have in it, as the public at large can edit it, this loss of trust was potentially devastating. The Wikipedia Foundation knew that it would need to do more than issue an apology to John Seigenthaler. Its actions were as follows:

1. It made a special section called “biography of living persons,” which would be more difficult to edit and would be monitored more frequently.

2. It stopped allowing anonymous users to create articles.

3. It spent time showing the relative validity of data in Wikipedia, especially as compared with well-respected encyclopedias.

The preventive and reactive measures taken by Wikipedia in this situation regained its public trust. Further boosting its reputation, Nature magazine compared the accuracy of Wikipedia with that of Encyclopaedia Britannica, and found them to have roughly an equal number of flaws!

Wikipedia, trusted company, Trust in Education, Building Trust, community of trust

High Point University | Trusted Company of the Month

2 July 2012

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Categories: Building Trust, David Horsager, The Trust Edge, The Trust Edge Book, Trust in Education, Trusted Company, Trusted Company of the Month

When Nido Qubein took over as president of High Point University, he decided to change the way most colleges view students. Inexpensive sturdy wooden couches in resident halls and lounges were replaced with high-grade leather ones. Older televisions were replaced by the newest flat-screens. The list of upgrades goes on and on, and High Point University is a gorgeous facility today. Many universities might worry that the students would abuse the nicer amenities. Qubein told me, “We have seen the opposite. If you respect people, they will step up. Trust is fundamental to all we do.” The payoff: more students, greater visibility, a better work environment, higher retention and productivity, and a place where pride abounds among students, faculty, and staff.

High Point University, Trust in Education, Trusted Company of the month, The Trust Edge, Nido Qubein, David Horsager

McDonalds | Trusted Company of the Month

1 June 2012

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Categories: Building Trust, Consumer Trust, David Horsager, The Trust Edge, Trust in Relationship, Trusted Company, Trusted Company of the Month

McDonald’s is trusted because of their consistency. They deliver the same product everywhere, everyday. Regardless of whether we love the French fries of the Golden Arches, or protest their nutritional content, we know who they are and what to expect. They give us the same thing every time. Consistency is the only way to build a brand or reputation. A brilliant marketing idea is interesting, but the product is not trusted unless it is consistent. Predictability and reliability are the cornerstones of this pillar.

McDonald’s, Trusted Company of the month, consistency, deliver, Consumer Trust, Building Trust

iPods, Mac Air, Mac mini, iPhones and iPads: Creations of Apple Inc. | Trusted Company of the Month

1 February 2012

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Categories: Building Trust, Business Ethics, Business Trust, Consumer Trust, David Horsager, Trust, Trust in Business, Trust in Media, Trust in Technology, Trusted Company of the Month

Apple Inc. has created a following of committed customers who are willing to pay more than competitors because Apple delivers fresh innovative technology again and again. From iPods, to the Mac Air, to the Mac mini, to iPhones, and iPads, Apple Inc. has created an environment where high standards of competency result in innovative usable technology. We must be highly competent and increasingly capable in the areas we want to be trusted.

Apple Inc., iPod, iPad, Mac Air, Mac Mini, iPhones, Trusted Company of the month, trusted brands, Consumer Trust, Trust in Business, Ttrust in media, Trust in Technology

World Wide Travel Inc. | Trusted Company of the Month

2 January 2012

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Categories: Building Trust, Business Trust, Consumer Trust, David Horsager, Trust in Business, Trust in Relationship, Trusted Company of the Month

Few firms can say they have too many customers. Even fewer travel agencies are thriving in the current economy because of the new “book-your-travel-online” culture in which we live. Not so for Joe Kimbell, president of Wide World of Travel, Inc. He started selling travel from his post-college basement apartment in the mid 1990s and now it has become a multimillion-dollar agency that sends hundreds of groups to the far reaches of the globe every year. How did he do it? Trust.

Kimbell created a clear niche that he is passionate about, group travel. He also sought wisdom from a great mentor. But most importantly, he built long-term relationships by consistently delivering what he promised time and time again. Making personal phone calls, taking time to listen, talk, and follow up, even when things are busy, and quickly responding to inquiries and questions are just what clients have come to expect from Kimbell. Known for high integrity, if he ever makes a mistake, he is quick to make it right. If his clients ever make a mistake, he always works hard to make it right for them-frequently at the expense of his own company. He not only builds client relationships, but he also makes friendships based on trust.

Kimbell goes out of his way to make sure his clients have the highest level of confidence in what Wide World of Travel will offer, every time. Kimbell says, “Serving the client, keeping their best interests in mind has paid dividends.” What kind of dividends? Long-term friendships, more clients than he can handle, and a fun, guilt-free life, knowing he habitually does what is right.

World Wide Travel Inc., trusted business, Trusted Company of the month, Joe Kimbell, David Horsager, Trust in Relationships, Consumer Trust,

The Great Wall of Trust | Trust in Business

19 December 2011

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Categories: Building Trust, Business Ethics, Business Trust, Leadership Tips, The Trust Edge

New research on cognitive and affective trust in Chinese business was released today from Harvard Business School.

“Cognitive trust is trust from the head; it’s a very rational way of assessing ability and reliability,” says Chua. “Affective trust is trust that comes from the ‘heart.’ This type of trust involves considerable emotional investments.”

http://hbswk.hbs.edu/item/6866.html

Business in China, Business Ethics, Guanxi and Trust, Harvard Business, Harvard Business School, The Trust Edge, Trust in China

Pepsi Co.: The Leader that Made Compassionate Cola | Trusted Company of the Month

1 December 2011

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Categories: Building Trust, Business Ethics, Business Trust, Consumer Trust, David Horsager, The Trust Edge, The Trust Edge Book, Trust in Business, Trusted Company, Trusted Company of the Month

Growing up in Madras, India, Indra Nooyi had always dreamed of living in the United States. It started when she came to the U.S. to earn her M.B.A. from Yale in 1978. She joined PepsiCo in 1994. In 2006 Nooyi became CEO of PepsiCo and has since led the mega brand that is in nearly 200 countries. Her legacy is that of compassion with an eye on the bottom line. Her motto: Performance with purpose. She shares her vision by saying, “We bring together what is good for business with what is good for the world.” How has she built the Pillar of Compassion that has changed the bottom line?

When Nooyi was awarded the CEO position in a race with a long-time colleague, she immediately flew out to meet the colleague and asked what she could do to keep him. She nearly matched her salary, among other things, and a great team was born.
Nooyi made a commitment to move away from unhealthy food and drinks. Examples in the works are high-fiber oatmeal and low-calorie Gatorade. According to Michael Useem, “By 2010, Nooyi has pledged, half of Pepsi’s US revenue will come from healthful foods.”
Nooyi has championed moves toward renewable energy and has campaigned against obesity.

What has happened because of decisions made by the lady known as the “Caring CEO”? Profits have soared. And so has influence and impact of the $39 billion PepsiCo.

PepsiCo., Indra Nooyi, trusted company, Trust in Business, Consumer Trust, consistency, David Horsager, The Trust Edge

Southwest Airlines | Trusted Company of the Month

28 September 2011

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Categories: 8 Pillars, Building Trust, Business Trust, Consumer Trust, David Horsager, The Trust Edge, Trust in Business, Trust in Leadership

As one of America’s most beloved companies, Southwest Airlines (SWA) has posted consistent profits an amazing 35 years in a row in an industry where fuel costs, security concerns, and customer dissatisfaction have forced major competitors into bankruptcy.

While the airline industry, as a whole, has found itself rated below the IRS in customer satisfaction, SWA has consistently been ranked in customer and employee satisfaction and corporate reputation. SWA has been #1 in on-time arrivals, departures, and overall quality. A primary reason for their enduring success has been the trust they’ve established with their employees and their customers.

In the spring of 2008 it came out that SWA missed several mandatory maintenance checks, operating dozens of their planes in violation of several federal laws. Facing a major fine by the FAA, the company’s response was to ground the aircraft and release the personnel they deemed responsible. For most corporations this would spell a public relations nightmare! But for the most part, passengers failed to react at all. Why would they give Southwest a pass on what seems to be an egregious error? The public offered them an extra amount of grace because of the exceptional level of trust Southwest had achieved.

The Trust Edge, Trust company of the month, Trust Impacts the Bottom Line, Trust in Business, Trust in Leadership, David Horsager, Positive Impact, Southwest Airlines

A Quick Trust Reminder | The Trust Edge

27 September 2011

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Categories: 8 Pillars, Building Trust, David Horsager, Leadership Tips, The Trust Edge, The Trust Edge Book, Trust, Trust Coaching, Trust in Business, Trust in Government, Trust in Leadership, Trust in Media, Trust in Relationship, Trust in Sports, Trust in Technology, Trust Speaking

Trust, not money, is the currency of business and life. In a climate of trust, people are more creative, motivated, productive, and willing to sacrifice for the team. What happens when a business gains The Trust Edge? Every aspect of business becomes profitable. You must realize the impact of trust and implement the 8 Pillars to gain The Trust Edge.

By earning The Trust Edge, you will gain a significant advantage that extends far beyond the bottom line. Our hope is that this foundation of trust will become a part of who you are. To receive a list of 18 ways to build trust, email us at info@davidhorsager.trustedge.com and put “Tips” in the subject line.

The Trust Edge, Trust impacts the bottom line, Trust in Business, As Trust Increases, Increased Productivity, Productive Work, Trust and Money

Earth Security | Trusted Company of the Month

1 September 2011

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Categories: 8 Pillars, Building Trust, Business Ethics, Business Trust, David Horsager, Leadership Tips, The Trust Edge, Trusted Company, Trusted Company of the Month

Earth Security takes specific actions to communicate the importance and the expectation of a trust-based environment. It is a major part of the hiring process and the performance management process. The company understands that trust happens when words and commitments are equal with actions and delivery. For them trust is not a nebulous “feeling.” It is quite simply the result of consistent, positive behaviors practiced over time and therefore completely manageable. Trust is the core of their business strategy.

Anthony Diekemper, the CEO of Earth Security said, “Trust is what we call ‘the sweet grease.’ It is our number one priority in all aspects of our business. You think trust does not affect the bottom line? Leaders who think their only job is to make money are just missing the bigger picture. As executives, we have an obligation to manage with fiscal responsibility, but the way you optimize the financial performance of the company is to have highly engaged employees. They work harder, give more of their discretionary energy, and are happier to be in your company. The foundation of engagement is always trust.”

8 pillars, Earth Security, The Trust Edge, Trust, Trust Impacts the Bottom Line, Commitment, David Horsager, Leadership, Performance Management, Trusted Company