To increase Trust, business cannot be seen as acting solely in self interest; it must adopt a broader, societal view, while executing on the fundamentals in the pursuit of profit.

Here is the path to the license to lead:

• Exercise principles-based leadership instead of rules-based strategy.  Business should not go to the edge of what is legally permissible but rather stay focused on what is beneficial both to shareholders and society.
• Recognize that the operational factors responsible for current trust in business won’t build future trust. Our research shows that consistent financial returns, top management, and innovative products are the primary factors on which current trust levels rely. However, societal and engagement factors such as treating employees well, putting customers ahead of profits, and transparency are vital to building future trust.
• Practice radical transparency. Speak first to employees—whose credibility rose dramatically—enabling them to drive the continuing conversation with their peers. Establish operational and societal goals, then report regularly. Click here for videos from the World Economic Forum in Davos on radical transparency.
• Shape the public discourse on issues like fracking and charging fees for financial services. Explain the advantages for customers. Business must exhibit its role as job creators, managers of responsible supply chains and community partners that help build infrastructure.

Learn more about business and government not meeting the public’s expectations, as well as the 16 attributes that drive trust.

For data and analysis of the 2012 Trust Barometer, read the Executive Summary or the Global Results Presentation.