…. fosters belief, belief fosters success. Honesty and integrity are key to building and keeping this common element of successful company’s culture. Shared expectations are key. Promises and agreements that are kept. Leadership that delivers on commitments. Employees work harder for leaders they trust and respect – for leaders they don’t want to disappoint.
Noted economist Ken Arrow wrote “Virtually every commercial transaction has within itself an element of trust, certainly any transaction conducted over a period of time. It can be plausibly argued that much of the economic backwardness in the world can be explained by the lack of mutual confidence.”
Arrow’s quote is from nearly 40 years ago. Many others who have expressed similar.
Building trust and belief was the first step of every successful turnaround I’ve been involved. Central to success in all aspects of our lives in my view.
Maybe Arrow’s on to something?