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Global "Trust" - Sourcing Across Multiple Cultures

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Presentation from Sourcecon 2012 in Atlanta, presented by Adam Lawrence.

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Page 1: Global "Trust" - Sourcing Across Multiple Cultures
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Trust

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Three Categories of Trust

Government (national & economic)

Organizational (brand)

Individual (relationship)

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Francis Fukuyama

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Fukuyama’s Theory:

On a macro level societies can be divided into two categories: low trust and high trust:

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Fukuyama’s Theory:

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Trust, Business, & Globalization

Globalization depends upon well regulated markets--the rule of law

These factors make businesses less willing to invest in a country--and works against globalization

High Levels of Corruption

Weak Property Rights,

Unenforceable Contracts

Unfair Legal System

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Global Corruption

Source: Transparency International

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The Inequality Trap

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The Inequality Trap

The stability of trust, corruption, and inequality--and the strong interconnections among them suggests that it will not be easy to build up trust or to end corruption

To build trust, we need to focus on two key issues:

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Inequality Globally

Source: UN Human Development Report

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The Rise and Fall of a Computer Empire

1990 - Dr. Wang dies and his son Fred takes over as CEO

1980s - Wang annual sales reached $3 billion with 33,000 employees

1992 - Wang files for bankruptcy

1951 - Dr An Wang founded

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“Trusters” Innovate

More trusting countries are considerably more likely to be innovative

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“Trusters” Embrace Technology

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Organizational (Brand) Trust

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Brand Trust & Reputation

Companies spend substantial amounts of money to get your attention and gain your trust

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Social Media In the world of social media = Trust

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Corporations Don’t Always Get It Right

The Coca-Cola name in China was first read as “Kekoukela“, meaning “Bite the wax tadpole” or “female horse stuffed with wax”, depending on the dialect

Pepsi’s “Come Alive With the Pepsi” translated into “Pepsi Brings Your Ancestors Back From the Grave” in Chinese

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Sometimes things go terribly wrong

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Individual (Relationship) Trust

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The Circle of Trust

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Personal Communication

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What’s Really Happening When We Communicate?

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EVP Around the World Top 3 Attributes

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To Build Trust

Deliver results “Do what you say” Act Selflessly

Act Consistently Exceed Expectations

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The Dumb Tax

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Parting Thoughts

Don’t Rush In

Do Your Homework

Embrace and Celebrate the Differences

Adapt

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THANK YOU!

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APPENDIX

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http://www.globaltalentbarometer.com

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Wanted Analytics

www.wantedanalytics.com

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Culture Wizard

http://rw-3.com

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The Speed of Trust