The inability or unwillingness of citizens to differentiate between fake and authentic news is undermining a fundamental assumption of democracy: the informed voter.
Richard EdelmanRead
I think that the direct conversation is exactly what companies need to earn trust of customers. Admit an error. Fix a problem. Commit to doing better. That is only human.
Interpretation
Open and honest communication is essential for companies to build trust with customers.
The quote emphasizes the importance of direct communication in fostering customer trust. By acknowledging mistakes, rectifying issues, and committing to improvement, businesses can demonstrate their humanity and reliability, ultimately strengthening their relationship with customers.
In practice
During a customer service meeting, to emphasize the importance of transparency, I could use this quote to highlight how admitting errors can strengthen relationships.
The inability or unwillingness of citizens to differentiate between fake and authentic news is undermining a fundamental assumption of democracy: the informed voter.
Engagement and integrity are the two most fundamental aspects of building trust; lead from the front by evolving your company strategy, then live your values every day.
Advertising has always been the 'head boy' of the communications industry, but not anymore. Now the rest - creative, digital, and media - is just as important.
I don't look at business as a zero-sum game. I don't. I've never seen it play out that way in our industry, and I think you innovate and you add value, deliver value back to customers, and you get value back from the world.
Growth makes management easier. In particular, it makes making labor concessions seem easy. It's when growth stops because you're being disrupted that managing becomes really, really hard, and as a result, most disrupted companies simply disappear.
Time is the friend of the wonderful business. It's the enemy of the lousy business. If you're in a lousy business for a long time, you're going to get a lousy result, even if you buy it cheap. If you're in a wonderful business for a long time, even if you pay a little too much going in, you're going to get a wonderful result if you stay in a long time.
Zoom does not focus on revenue goals, but rather we have confidence that focusing on the happiness of existing customers and our employees will organically increase growth.
When we first started our internet company, 'China Pages', in 1995, and we were just making home pages for a lot of Chinese companies. We went to the big owners, the big companies, and they didn't want to do it. We go to state-owned companies, and they didn't want to do it. Only the small and medium companies really want to do it.
Entrepreneurs have only the murkiest picture of the future in which they are making their bets, and also there is ambiguity: they don't know when they push this lever or that lever that the outcome is going to be what they think it is going to be - there is the law of unanticipated consequences.
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