The impact of trust on the economy can be witnessed at the corporate level. Bear Stearns, AIG, and Lehman Brothers were at one time considered trust-based businesses. Each of these companies relied on the trust of the market to establish the firm’s value. As trust goes down, value goes down. For instance, the $236 million purchase proposal for Bear Stearns by JP Morgan Chase came just hours after Bear Stearns’ market capitalization was $3 billion. Interestingly, just over a year ago that market cap was $20 billion. As trust in the market tanks, so does the value of the business.
Globalization
How to Build Trust Across Cultures and Diversities | Trust in Leadership
In the 21st century, there’s no doubt that each of us will spend considerable time interacting with those of a different culture (or other diversities). Trust-building isn’t easy, and it can be especially daunting the more differences that are present. Here’re some top tips and discussion questions from chapter 14 of The Trust Edge that can help. Consider printing this post to work on with your team this week.
International Hubbing & Structure | Trust Trends 2014 Series
Major international hubs are forming around manufacturing and logistics clusters, and corridors between them are developing like superhighways of land, air, and sea.
Major international hubs are forming around manufacturing and logistics clusters, and corridors between them are developing like superhighways of land, air, and sea. Global trade, services, and online infrastructure are becoming quicker, easier, and more connected to the source, and manufacturing is shifting from China to Southeast Asia, Africa, and back to the United States. In 2014, the world is growing an international infrastructure.
Alliance Academy International | Trust in Schools
It didn’t take long for me to see the impact of trust at one of the biggest schools of its kind—Alliance Academy International(AAI). The impact of an AAI education and experience is powerful. The English Speaking School in Quito, Ecuador educates students from thirty-two nationalities this year alone. The nearly 200 faculty, staff and board are multinational. A student might be a general’s son, a pop star’s daughter, or a scholar-shipped child from the Amazon jungle.
How does AAI build trust that impacts so many lives in the face of such diversity?
Volatile & Vulnerable Global Context | Trust Trends 2014 Series
The three-speed global economy is volatile, and a deficiency of trusted leadership makes the entire world vulnerable.
The global context is marked by volatility and vulnerability. The global population is rising quickly, resources are growing scarce, new technology is causing constant disruption, employment rates are on the downswing, and tensions remain. The three-speed global economy is volatile, and it’s not a good time for a crisis of leadership. A deficiency of trusted leadership makes the entire world vulnerable.
Understanding Shipping | Trust in Global Business
In this fascinating speech by Rose George, she gives some statistics and stories that connect all of us to the unkown world of shipping. The public’s unfamiliarty (which experts call “Sea Blindness”) with this vast world, many trust issues exist.
http://www.ted.com/talks/rose_george_inside_the_secret_shipping_industry.html
Here are some highlights:
- 90% of world trade is through shipping
- It has quadrupled in size since 1970
- Harvard Business recently named some Somali Piracy as a top business model – more on high piracy waters.
- 544 seafarers are being held hostage off the Somali coast by pirates
- 15 of the largest ships carbon emissions = all of that from the world’s cars
- There are 100,000 ships at sea
- Little known Maersk has an annual revenue of $60.2 bn – on par to Microsoft
- Container ships sail around 20 people vs. Navy ships commonly have 1,000+
- Incredibly multi-cultural crews with ability to fly most nation’s flag
Ted Talk: How the NSA has betrayed the world’s trust — time to act | Trust in Government
NSA spying, Foreign Relations and Trust, trust in american politics, Trust in government, trust in democracy, trust in democracy, trust
The Economist: Building Trust Across the Global Economy | The Trust Edge
Political Pressures: A question of trust
Why trust is important when doing business across the globe. How does doing business across cultures affect small business?
economy, Global Trust, globalization, Consumer Trust
