-: I'm Edie and I'm here with Russell.
Trust is such a big topic here at Davos.
I wonder how BCG thinks about it.
-: For us, the way we think about trust
is that trust is a promise.
So it can be implicit or explicit to different stakeholders
and are you going to keep that promise?
So what we've been doing is studying trust and its relation
between an enterprise and those stakeholders
over the course of the last three years.
And most recently we did this whole study
with the thousand largest companies
and we looked at who are the top 100
and the bottom 100 most trusted companies
to understand the different characteristics of those.
-: So tell me about that.
Tell me about the characteristics
and what companies need to think about.
-: So in terms of the characteristics, what we found is...
well first of all, there are four dimensions of trust.
It's fairness, transparency, competence, and resilience.
And what we also found is that for those companies,
there are a different set of topics
that really drive trust enhancers,
the trust foundations, and the trust destroyers.
And at the top of that list is innovation.
So a lot of time when people think about trust,
they think it has to be
about corporate citizenship and other things.
But in fact, the actions you take as a company
to drive innovation are at the top of the list.
-: Really interesting.
You are on...if you find yourself on the wrong side of that,
or if you find yourself lower down that list
than you'd like to be, what are the steps you can take
to come up the list to gain trust?
-: Well, we're in the middle of doing some research right now
and we'll come out with that
over the course of the next few weeks.
But the main thing that we're seeing right now is,
yes, of course, once you've fallen down on trust,
you've had that breach of trust,
the first thing you need to do,
of course, is to course correct
and determine whether an apology is needed,
whether you need to defend yourself strongly,
or whether you need to make a measure of changes.
But that's only the first step.
So companies who do those things
but then don't make the operational changes
and then deliver with consistency,
their trust never is able to climb
back up to its earlier heights.
So it's very much also an operational,
an ability to deliver on your trust promise,
not adjust about the communications.
-: Russell, thanks very much.
-: My pleasure.