Businesses of all kinds are mired in a crisis of trust. In fact, many employees and customers have adopted mistrust as a way of life, assuming that every big mainstream business will sooner or later fail to live up to their expectations. As LRN CEO Dov Seidman explains in this strategy+business article, businesses must increasingly compete based on trustworthiness.
“Business leaders have an urgent need to rebuild trust with their constituents, and those companies that stand on the sidelines will soon be outpaced by competitors who are willing to change,” he says.
But how should you begin this process? The most effective way to start, he says, is to pause.