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Business Resilience: Volatility of Trust & Confidence

Considering the significant effort companies and agencies put into building and maintaining consumer trust and confidence, it is essential to understand how this investment can be affected by uncertain and ambiguous situations.

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What is an organisation’s ability to respond to shifting environments and focus key strategies to emerging challenges? What are the internal buffers available to counter these pressures, before reaching critical levels? If these are surpassed, what are acceptable losses and what are manageable costs when dealing with consumer trust and confidence?

It is important to identify what is the organisational preparedness and flexibility to deal with shifting environments, in terms of how they can possibly influence trust and confidence. Strategies addressing potential areas of risk should maintain a balance between business resilience and continuity.

The important self-reflecting question that needs to be answered by any organisation: are these strategies addressing the problem at hand, or are they merely a response to the external pressures of accountability? If there is no clarity on this position, the general public can possibly see their trust and confidence in an organisation – and the service or product they deliver – as misplaced and undervalued. Organisations cannot afford to be reactionary and be seen to engage in accountogenic decision making.

So, reviewing guidelines and strategies, can these procedures and situations be tested or prepared for?

 

 

 

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