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We live in strange times. Anyone can broadcast anything via the web and social media. Unsubstantiated and biased “news” quickly compounds in prominence through the magic of algorithms. Truth has become elusive.
It’s a reminder of the importance of trust. When banks open accounts without telling us, when credit bureaus don’t safeguard our data, we lose trust in them.
Managers are hardly omniscient, and bad things can happen in any organization. In today’s world, we must ask “Who trusts us? Why? How might we lose that trust?” Managers must address this. The real currency of organizations isn’t dollars – it’s trust.