TRUST FUELS EFFICIENCY
- A trusting system works most efficiently.
- Trust is works like oil that lubricates the machine (business ecosystem) and removes its rustiness and squeakiness.
- Trust in business delivers extremely high upside.
FIXING THE NEXUS OF EXTERNAL INTERFACES
- Inconsistencies, chaos and confusion amongst trade partners often leads to disputes, arguments, quarrels and hard work.
- Once bitten twice shy builds a general sense of distrust which demands extra caution.
- All this adds to higher transaction costs and lowers collective leverages.
TRANSACTIONAL DISTRUST SPREADS FURTHER TO INFO-SHARING AND MORE
- Reported data is mostly stale and unreliable. Rooted distrust fast multiplies into non-cooperation and compromised value chain performance.
ESSENTIAL COMPONENTS OF TRUST
- Integrity with honest accountability
- Reliability: walk the talk, dependable
- Shared motive: Mutual interest to do and mean good for each other; safeguard each other
HX ADVANCES THE MEASURES THAT PROMOTE TRUST
- Transparency - higher shared visibility
- Predictable performance - discipline, consistency and accountability
- Shared purpose - aligned customer centric approach, defined service levels and protocols and common growth agendas
TRUST FOR EFFECTIVE CHALLENGE AND CRISIS MANAGEMENT
- Standing by/with each other during a crisis builds confidence which when tenured over time converts into trust
- To deliver peak performance, pushing the boundaries constantly challenges the chain to achieve new benchmarks
- Enabled by the Common Cloud Chain, it opens possibilities
EMPOWERED BY DEMOCRATIZATION
- Everyone on the same page - with common data points
- Known benchmarks - with shared workflows
- No hidden secrets - nothing that raises doubts
- Black and white - straight talk
TRUST NEEDS REINFORCEMENT
- In business, even the deepest and tenured interpersonal trust needs constant and repeated reinforcement
- Concurrent assurance renews trust during transactional dealings
- Transparency, accountability and real-time visibility eliminates scope for doubt