Skip to main content

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated Cookie policy, Privacy policy and Terms & Conditions

Redefining Business Competence

Less than one-fifth of the global public believes that business and government officials will tell the truth when confronted with a difficult issue. Given the constant stream of security and data breaches and allegations of financial manipulation by some of the world’s leading banks, who can blame the public for feeling this way?

DURHAM, NORTH CAROLINA – One of the most interesting parts of my job as a business school dean is engaging in candid conversations with leaders across industries. A few years ago, I started hearing a troubling refrain: business leaders are feeling the type of public disdain once reserved for politicians.

The problem is one of trust – or lack thereof. The 2014 Edelman Trust Barometer reveals that less than one-fifth of the global public believes that business and government officials will tell the truth when confronted with a difficult issue.

That public sentiment is affecting business worldwide. The Duke University CFO Magazine Global Business Outlook Survey found that nearly 60% of chief financial officers in the United States believe that a lack of public trust has harmed the business environment. Those percentages are even higher in other parts of the world.

We hope you're enjoying Project Syndicate.

To continue reading, subscribe now.

Subscribe

Get unlimited access to PS premium content, including in-depth commentaries, book reviews, exclusive interviews, On Point, the Big Picture, the PS Archive, and our annual year-ahead magazine.

https://prosyn.org/G7iIdzw;
  1. leonard52_Frank Augstein - WPA PoolGetty Images_borisjohnsonthumbsup Frank Augstein/WPA/Pool/Getty Images

    The End of the EU’s Brexit Bounce

    Mark Leonard

    After years of watching the United Kingdom muddle through a political crisis while enjoying an unprecedented level of unity among themselves, Europeans now must prepare for darker days. Negotiations over the future UK-EU relationship will inevitably divide Europeans and offer fodder to Euroskeptics.

    1

Edit Newsletter Preferences