Saïd Business School and Mars Corporation suggest the answer to restoring the trust deficit lies in principles of mutuality.
Public trust in corporations and their leaders is low – down there alongside politicians and estate agents – and it has been stuck at that level for at least 35 years, according to long-term polling by Ipsos MORI. The major reason for the lack of trust in the corporate world is a widespread belief that companies and the elites who lead them are interested only in their own profitability and financial gain, with little regard for the wellbeing of employees, customers, society or the environment, says Professor Colin Mayer CBE, Peter Moores Professor of Management Studies at Saïd Business School.
‘Mistrust in business is profound, pervasive and persistent,’ he recently noted. This mistrust is compounded by the fact that the largest companies have grown to rival entire countries in terms of their economic power.