“We’re seeing a vastly different set of factors driving reputation than we did 10 years ago” says Richard Edelman. “Trust is now an essential line of business to be developed and delivered.”
Corporate Transparency is Smart Business.
Companies are making public commitments to build public trust through transparency and honest dealings in their interactions. This goes hand in hand with transparency and ethical / social business. When you connect the dots with the social technology being implemented into more open “Social Busienss” environments, you see the need for open communications to create trust in the eye of the public and the employees.
In the past, companies would only sit up straight and behave when they felt the “cameras were on them” but now we see that everyone has a camera and everything is being recorded reported through the social web.
The Edelman Trust barometer reports that In the United States, after quality and price… Social purpose (at 47%) ranks higher as a purchase motivator than brand loyalty (27 %) and design and innovation (26 %).
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