This week the CBI has put Consumer Trust at the Heart of a debate – ‘The Great Business Debate’ http://www.greatbusinessdebate.co.uk/ .
The campaign follows review after review and survey after survey, most of which conclude that something must be done about consumer trust. It’s not just trust in business as witnessed by the misdeeds of some public services and charities. Clearly the CBI will address business and the campaign acknowledges that the consumer is least happy with Big Business.
In starting the debate, Director General, John Cridland paints the big picture and the relevance of consumer trust to “growing the economy, creating jobs and boosting prosperity for all” whilst Peter Vickery-Smith of ‘Which?’ promotes the benefits that will most motivate businesses themselves – gaining a “competitive advantage”.
The fact is that there is a glaring business case. Generating trust leads to two of the most prized consumer behaviours – Loyalty and Advocacy. Conversely, distrust leads to the opposite.
So if the business case is so intuitive and obvious why does the CBI need to have the debate? Perhaps the answer will emerge! One explanation might be that even though the case is clear, the solution is not so obvious. However, it is available and it has been mapped out too.
The University of Liverpool have launched their new campus in London addressing the specific issues raised by the Great Business Debate CBI campaign. Find out more by visiting http://www.liv.ac.uk/study/london/programmes/cpd/