In one of my earlier blogs, I called on today’s leaders to put their egos aside in order to guide us out of a vicious cycle of bad decisions, short-sightedness, and financial despair toward an integrity-based vision where innovation and creativity is the norm. And now, several months later, I am calling all (crisis) leaders once again…but this time, specifically to guide us out of this financial crisis. In this series of blogs, I’ll address the destroyed trust that has occurred and recommend ways to rebuild that trust through effective crisis leadership.
The financial industry is undergoing one of the most tumultuous times in history and the consequence has been a precipitous decline in the public’s trust in the industry and in its leadership. Over the next few weeks I’ll provide an overview of the construct of trust, describes why crisis events erode trust, and offers guidelines for how to rebuild trust following a crisis. Using the principles of crisis leadership as a backdrop, I’ll demonstrate the significance of integrity, positive intent, capability, mutual respect, and transparency on the trust building process. Here I present the first in a series of blogs on Rebuilding the Image of the Finance Industry through Trust:READ»
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