MP expenses scandal all over the news. MPs have been taking the mick with our money and we are angry and have lost faith in our elected representatives.
This has happened before. Arthur Andersen lost its reputation and was quickly gone.
Hard earned and quickly lost, trust is probably the most valuable asset any organisation can have. Trust building is the basis of branding. Brand (and therefore trust) protection should be the major KPI and job of every Chief Exec.
Can trust be regained? Can you trust again? When betrayed by a partner, friend, business partner? Arthur Andersen failed to regain trust and lost virtually everything.
Pragmatically, its easier and costs less to keep your reputation than to try and regain it once its lost.
On principle, it is a no-brainer.