Project Your Credibility in an Age of Transparency

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Project Your Credibility in an Age of
Transparency

• Prof. Susan Stehlik
• EOWAP February 15, 2009

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Who sees what?
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Different perspectives yield different views

• The challenge is to manage those perspectives

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Workshop Challenges

• What is the profile of a credible international
  business leader?
• Is there a pervasive lack of trust why?
• Can a lack of trust lead to opportunity?
• - Especially for women? And, entrepreneurs?
• Whats your profile?
• Are you credible?

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1. What is the profile of a credible
international business leader?
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Test your judgment

• Born 1938
• Birthplace New York New York
• 1960 At the age of 22, he took 5000 earned from
  his summer job as a Long Island lifeguard and
  started his own investment firm
• 1970 his brother joined him in what had become a
  booming business with an impressive list of
  clients
• The firm grew famous for it reliable annual
  returns of 10 or more.
• He served as President of the board of directors
  of NASCAQ stock exchange

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Bernard Madoff
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• On 11 December 2008, FBI agents arrested Madoff
  the Securities and Exchange Commission said he
  was charged with "massive fraud
• Up to 50 billion
• Largest swindle in Wall St. history

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Bernie wasnt alone

• How many swindlers have you known, met or read
  about?

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Example 2 test your judgment

• Born 1954
• Birthplace rural Mississippi
• Daughter of a poor teenage single mother
• Raised in an inner city Milwaukee neighborhood
• Raped at age 9
• Gave birth to a son at 14 who later died
• Sent to live with a barber in Tennessee
• Got a job in radio while in high school
• Began co-anchoring the local enveing news at the
  age of 19
• Credited with an emotional ad-lib delivery style
• Boosted a third rate local talk show to first
  place
• Started a production company
• Co. is internationally syndicated

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Oprah Winfrey
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On Oprah.

• She gives
• She teaches
• She attracts great people
• Shes credible
• She lives life on her own terms

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Oprah on credibility

• In short, Oprah is an expert at what she does and
  people trust her. She delivers information that
  is researched and supported by a well-informed
  staff and people value her opinion because it is
  usually unbiased and backed by several sources.
• There are no perfect people and no one gets
  everything right all the time, but when you have
  a track record as good as hers it's easy to
  acquire a huge following.
• Those of us who want to be perceived as credible
  can benefit from her habit of gathering accurate
  information that is backed by reliable sources
  and distributed when needed, always with the best
  of intentions.

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What qualities define credible?

• .
• ..
• ..

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(No Transcript)
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2. Is there a pervasive lack of trust in our
marketplace?
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CORPORATE chief executives have lost confidence
in the outlook for their companies

• Most notable in China, where fewer than a third
  said they were very confident.
• Only in India did a large proportion of chief
  executives remain confident, but even there the
  number fell to 70 percent from 90 percent.

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and educated elites around the world have lost
confidence in the chief executives.

• People in Mexico appeared to have the most
  confidence in the veracity of corporate bosses,
  with 43 percent saying they would find a
  statement by such a person regarding his company
  either very credible or extremely credible.
• But that was down from 61 percent a year earlier
• In the United States, the figure fell to a
  six-year low of 17 percent, from 23 percent.
• But that was still better than in France, at 13
  percent.
• Most major countries showed that about a fifth of
  the people found the chief executives believable.

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A rising doubt about the worlds economic system

• Conversation between Tony Blair and friend on the
  values behind market capitalism
• Friend See I told you. Capitalism is going to
  end
• Blair the free enterprise system has not
  failed. The financial system has failed.

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3. Can a lack of trust lead to opportunity?
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Whos moving into the new leadership?

• US. Barack Obama

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Do the math

• If existing structures and systems are failing.
• And leaders are arrested, fired and sacked,
• Then, whos replacing whom.
• Where?
• Do your homework, the world is ready for new
  leadership!

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Do your market homework..

• Germany's VDA Forecasts US Auto Market Will Grow
  in 2010 - Clean Diesels Go on the Offensive
• The Working Futures report, by the UK Commission
  for Employment and Skills, predicts a total of
  13.5 million job openings between now and 2017,
  two million of which will be new.??Jobs growth in
  the computing and service sector will be
  particularly strong, while an increase in
  opportunities is also expected in the
  distribution and transport sectors. The 2012
  Olympics is expected to create up to 170,000 jobs
  in the long term, according to the report.

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• Hungry for change.
• Wildly imaginative.
• Disruptive by nature.
• Totally wired to the people who matter most.
• Sounds like your average teenager.

• Do your corporate homework
• IBM surveys 1100 CEOs on qualities companies will
  need to thrive in the near future.
• DO these qualities build trust?

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Great reports for global perspectives

• IBM surveys CEOs, CFOs, CIOs
• http//www.ibm.com/ibm/ideasfromibm/us/ceo/2008050
  5/
• http//www.ibm.com/Search/?qceoreportv16lang
  enccusenutfSearchSearch

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Connect the dots.

• Brainstorm the possible opportunities
• Lack of trust in leadership leads to new leaders
  
• Market opportunities exist in new markets
• Corporations looking for new and wildly
  different talent OPPORTUNITY
• Are you ready to step in as the new, different,
  credible alternative to the past?

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What does your profile look like?

• Are you credible?

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What are the challenges of being credible in a
transparent market?

• In the former Wall St. your word was your bond. A
  promise was sealed with a handshake.
• A mistake was treated with blacklisting from the
  industry.
• The community was small and controlled
• It was built around individuals trust

• In the present Wall St. your word and handshake
  are electronic.
• A mistake can get a hand slap.or, jail
• Reliance on the regulatory system to monitor
• The community is global
• Trust is an organizational issue

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One view on building trust

• The Speed of Trust by Stephen M.R. Covey
• Self Trust
• Integrity
• Intent your agenda
• Capabilities relevant
• Results track record
• Relationship Trust
• Stakeholder Trust
• Inspiring Trust

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Coveys view is progressive it starts with self
and then moves to others and ends with setting an
example
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Start your reflection now
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How do you build trust?
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How do you manage trust?
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How do you recover trust?
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Who do you trust?
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Create your own list of trust factors

• Trust busters
• How do you sabotage your own best efforts?

• Trust enhancers
• What are you doing to build trust in others?

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Joharis Window a glimpse at managing
transparency?
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What Does your window look like?
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What happens when you adjust the panes?
Joharis Window
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Workshop conclusions

• Questions
• What is the profile of a credible international
  business leader?
• Is there a pervasive lack of trust why?
• Can a lack of trust lead to opportunity?
• - Especially for women? And, entrepreneurs?
• Whats your profile?
• Are you credible?

• Conclusions
• 1.
• 2.
• 3.
• What is your message to the world?

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Thank you for the trust!

• Susan J. Stehlik
• Professor Management Communication
• New York University Stern School of Business
• sstehlik_at_stern.nyu.edu
• Tel [phone]