Transparency:: “the only lasting competitive advantage is extreme trust”

If TRANSPARENCY is viewed as a "threat" it presents itself as an OPPORTUNITY for competitors and new entrants.

Customers are Ignoring You

Image by ronploof via Flickr

This message should really be ALL the incentive that the “managers” of tired old Institutions need to remind them that, before they determined that the function of their role was to secure individual wealth and power, it was to oversee fulfilment of the purpose(s) for which the organisation was first created.

Discharging that responsibility would be such a departure for some that it could amount to a “disruptive strategy”!

Extreme trust.  This may be the strongest strategy of all, because it makes it likely your customers themselves will want you to succeed. Being proactively trustworthy (we call it “trustable”) requires you to watch out for your customer’s interest even when your customer isn’t paying attention. For instance, if you try to buy something from iTunes that you already bought, they’ll remind you that you already own it. Ditto Amazon. Extreme trust like this engages people’s natural impulse to show empathy, transcending the commercial domain of monetary incentives and tapping into the social domain of friendship, sharing, and reciprocity. And extreme trust should be even easier for a physical store to earn, because most people find it easier to trust other people they come face to face with.

via The Only Lasting Competitive Advantage Is Extreme Trust | Fast Company.

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