Business leaders feel that their organizations are increasingly under threat today as uncertainty from market and political challenges seem more intense and issues of trust are more pronounced. PricewaterhouseCoopers’ recent article, “Redefining Business Success in a Changing World, CEO Survey,” recorded data from interviews with 1,409 CEOs in 83 countries.  Most CEOs (55%) are concerned about the deficit of trust in business today; only 37% expressed that concern three years ago. Moreover, two-thirds see more threats to their businesses today than they did three years ago. Yet, 60% see more opportunity. Whether it’s threats or opportunities, employing the strengths of your values and mission in this uncertain environment will build trust.

A high level of trust drives business performance. PwC’s studies indicate that the world’s most successful companies are building trust through a commitment to values and purpose. These organizations are significantly more profitable than their competitors that lack this focus.  Consumers make choices not just based on services provided, but more often because of overall trust in the organization.

CEOs know that customers, employees and other stakeholders increasingly care about what an organization stands for, and 84% believe that customers value how organizations conduct themselves in society. Most CEOs (69%) understand that their organizational purpose should encompass value for a variety of stakeholders – not just customers and investors, but also employees, wider society and even the organization’s supply chain. Serving this broad constituency had always been the case for 45% of the organizations. Evolving societal expectations caused 24% more to revise their mission over the last three years to reflect a broader constituency. Moreover, 64% of the CEOs said corporate social responsibility is core to their business, not an add-on program.

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Stuart Levine


Credit Union Times

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