Trust - what's the big idea?
It's the most important five-letter word in business, yet, in an increasingly transactional world, contracts replace handshakes and words require collateral to bind agreements.
This is because the two key components of trust - ability to deliver and faith in the other's intentions - require insight plus relationship.
In the business village, trust is like a tree - it takes time to grow, yet can be cut down in an instant. But in a world of strangers doing deals, we have to count our change and read the small print.
However, social media is bringing us into the era of e-trust - we can be eBay rated, Twitter shamed and Facebook framed, though the downside of being perpetually exposed is that there is no space for redemption, forgiveness and recovery.
