Banking on trust

Mike Love FCIPR

Ben & Jerry’s

January 2010

Banking on trust- Why being a good business is good for business

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What is your most important business asset?

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“Earn trust today, or lose your business tomorrow”

Al Golin

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“Be part of the communities

where we do business”

Ray Kroc

L.A. Riots 1992

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Trust in the bank

“It could be worse than AIDS”Chairman of UK GovernmentScientific Advisory Committee

Front page The Sun20 March 1996

Feb 06 Mar 06

100%

45%

McDonald’s UKBeef Sales

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Trust in the bankFeb 06 Mar 06 Apr 06 Sep 06

115%100%

45%

McDonald’s UKBeef Sales

“In an environment of government inaction, consumer uncertainty and media hysteria …McDonald’s voice remained one of cool leadership”.

“McDonald’s initiative captured the agenda and leadership”

UK Department of Health Chief press officer

1. Consider all options

2. Consult customers

3. Assess greatest asset

4. Withdraw ‘old’ product

5. Consult customers

6. Engage with industry,Government & experts

7. Create ‘producer-group’assured supply chain

8. Communicate change

9. Consult customers

10. Introduce ‘new’ product

ProductPrice

PositionPromotion

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PurposePrinciplesPassion

Pride

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“We don’t do these things to win elections, we win elections so we can do these things.”

Margaret Thatcher MP 1988

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“Our mission is to enable social

and economic opportunity for

the next five billion people”.

Bill Gates 2006

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“I’m proud that what I did at work

today makes a real difference.”

Steve Rainey 2007

Case study

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Trust lost15

Business Week, March 2002

McDonald’s Corp

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“People think that if they can't get the U.S. embassy, McDonald's is the next best thing“Prof J.L.Watson, Harvard 2001

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“Get my Communications Director in here!”

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Our beef - no binders, no fillers, no additives and no genetically modified ingredients

Just 100% juicy beef made from whole cuts of forequarter and flank.

Sourced from 16,000 British and Irish Farms

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McDonald’sturnedaround

McDonald’s Corp

(Since turnaround - 2006: $3.5bn 2008: £4.3bn)

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Lessons learned

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“All I’m saying is, giving a little to the arts might help our image.”

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“The companies to lead us out of the recession will be those which consider social responsibility as part of their core business strategy… rebuilding trust, managing the human dimension and seeing sustainability as an opportunity for new business are key to overcome the economic crisis.”

Günter VerheugenEuropean Commissioner

VP for Enterprise &Industry2009

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“Apart from

better sanitation and medicine and education and irrigation and public health and roads and a freshwater system and baths and public order

...what have the Romans ever done for us?”

Monty PythonLife of Brian

“it’s the way we do business …this is ourlicense to operate”

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If you’re not the lead dog

… the view is always the same.

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Thank you.