What a low-trust environment means for business
News of the recent Delhi Bombing created fear in the Indian population, as terrorist acts have done around the globe. The government agencies have not convincingly shown what a solution against terrorism might look like, which unfortunately is seen as a daily happening here and in several other countries. The recent telecom scams and commonwealth corruption issues have further undermined the faith that people have in several levels of society. Increasing corruption, personal and professional greed, as well as terrorism are further shaking the security in our communities. Meanwhile, senses of accountability and responsibility are fast becoming alien concepts. This article explains in brief what trust means, why it may be decreasing, what the impact is on business and how to prepare for a low-trust environment.
[This article has been reproduced with permission from IMD, a leading business school based in Switzerland. http://www.imd.org]