Trust Digest March 9, 2013
There's Nothing Like A Financial Crisis To Bring Out The Best In People
When things get tough, most of us close down. We try to protect ourselves from the pain of raw emotion others might exhibit. Leaders who remain vulnerable in tough times deepen trust with others in a way that endures long past the crisis moment. We have a sense that we learned who they really are. The key to building rather than eroding trust is the willingness to enter the awful uncertainty of crucial conversations with those we are responsible to lead and even let go.
Key Words: Financial Crisis, Downsizings
Trust Issues: Integrity, Transparency, Communication
Walmart and Annie's keep score of supplier sustainability
Retail buyers play a key role in helping big companies like Walmart make their supply chains more sustainable. Bringing them onboard, however, wasn't easy, so the world's largest retailer gave buyers scorecards to assess supplier sustainability. Now 5 percent of buyers' performance objectives must come from sustainable suppliers.
Key Word: Supplier Sustainability
Trust Issues: Responsibility, Accountability, Transparency, Communication
Of Fraud and Filet
We’re spooked by the horse meat story, disturbed by the fish tale and riveted by other instances of false food advertising because they remind us of a truth we try hard to forget. Every time we eat something that we haven’t grown and reaped and cooked ourselves undefined which means, for most of us, every time we eat undefined we’re taking a leap of faith: that it was protected from contamination; that it was inspected properly; that the cook didn’t mix in something objectionable; that the waiter didn’t drop it on the floor. We’re in a position of both extraordinary vulnerability and extreme trust. And while we can ratchet up our vigilance, that goes only so far. We can be local. We can be seasonal. We can be sustainable and organic and buy our pork somewhere other than where we buy our throw pillows. But we can never be entirely sure.
Key Word: Fraud
Trust Issues: Ethics, Integrity, Transparency, Responsibility, Accountability
NECC insider describes fraud at heart of meningitis outbreak
Forty-eight people are dead, and hundreds are being treated after the worst pharmaceutical disaster in decades. It started last fall, when a pharmacy called New England Compounding Center, known as NECC, shipped contaminated steroids to 23 states.
Key Words: Fraud, Pharmaceutical Disaster
Trust Issues: Ethics, Integrity, Responsibility, Accountability
Tax refund theft is nation's fastest-growing fraud
There may be a compelling argument for filing your tax return early this year. A new report by the Consumer Sentinel Network, a law enforcement coalition focused on identifying and fighting fraud, says that the nation's fastest growing crime involves stealing Social Security numbers to grab your tax refund.
Key Words: Tax Refund Theft
Trust Issues: Integrity, Ethics
Push for price transparency in health care
A few online companies, including a brand-new startup in Alpharetta, have emerged to serve the cash-paying health market niche, offering what they describe as greater price transparency and ease of use, not to mention discounts to their users.
Key Word: Price Transparency
Trust Issues: Accountability, Responsibility, Transparency
Canada’s reputation is tainted by bribery and abuse. Only boards can rescue it
The reputations of Canadian companies operating abroad are under serious attack. The bad past and continuing behavior of some companies could be affecting the reputation of some of the most important parts of the Canadian economy. These include the infrastructure, mining and energy sectors.
Key Words: Bribery Scandal, Corruption
Trust Issues: Ethics, Integrity, Reputation
Insight - A casualty of the financial crisis: The corporate palace
In many industries, such as financial services and technology, real estate ranks among the top expenses. More efficient use of office space can lead to tens of millions of dollars in annual savings - a boon for the bottom line at a time of uncertain revenue growth. As a result, companies have been consolidating their locations. Some are considering selling the real estate they own and redirecting the money to other uses such as research and development.
Key Words: Extravagant headquarters, Real estate spending
Trust Issue: Responsibility
Understanding the Shifting Politics of Climate Policy and Sustainability Management
Last week, Columbia's Earth Institute and its International Research Institute on Climate and Society hosted a panel discussion on climate adaptation in the aftermath of Hurricane Sandy. The tone of the discussion demonstrated that we have entered a new political moment.
Key Words: Sustainability Management, Political Agenda
Trust Issues: Accountability, Responsibility, Ethics, Transparency, Integrity
How Budweiser Is Risking--And Can Regain--Its Share Of Trust
Beer drinkers in the U.S. have filed a $5 million lawsuit accusing Anheuser-Busch InBev for deceptive practices–watering down its beer. The accusations state they have expert witness testimony and the suit involves 10 beers including Budweiser and Michelob, claiming consumers have been cheated out of the alcohol content stated on the labels because A-B InBev added additional water to produce beers with significantly lower alcohol contents.
Key Word: Brand Deterioration
Trust Issues: Ethics, Transparency, Integrity, Accountability, Responsibility
Can social responsibility sustain a global business?
Although the idea of corporate social responsibility (CSR) has existed for some time, its meaning and practice varies by country. CSR has served as a common concept for companies accountable for activities beyond making money and complying with regulations.
Key Word: Corporate Social Responsibility
Trust Issues: Stakeholders, Accountability, Transparency, Responsibility