Originally posted in our January 2022 Top of Mind Newsletter.
In the Edelman 2022 Trust Barometer Report, we see how globally, trust has become “the ultimate currency in the relationship that all institutions…build with their stakeholders.” Businesses lie at the intersection of public and private interests, as they hold the potential to impact the world through creating jobs, but also in myriad other ways. From climate change to the Great Resignation, businesses worldwide need to act with other institutions—NGOs, governments, and media—to empower their stakeholders and create a society of trust.
So, what does the role of trust have to do with the entrepreneurial mindset, you ask? Everyday entrepreneurs engage with their clients (stakeholders) in ways that large established organizations often do not. They’re filling needs within their communities through constant feedback from these communities. Entrepreneurial thinkers are, in short, ideally suited to break the cycle of distrust.
What’s more, as society continues to distrust powerful institutions, entrepreneurs seek solutions and navigate the obstacles of the current work landscape. Learning to think this way allows individuals to engage with institutions and create opportunities for themselves and their communities.
Learn more about how Edelman developed this report and how we can begin to rebuild trust in our society.