FBC #22 – Trust Production [1 page]

An Operational Concern: Presidents, Vice Presidents, Managers

“Trust” is the ability to anticipate how people and businesses will think and act with regard to whatever it is that we care about.

The more people anticipate that businesspeople’s or a business’ offers, practices, narratives and strategies are, or will be:

… the more quickly they will accept offers, which drops the cost of producing transactions

… and the more they will increase their willingness to pay a premium.

 “Production”, as we have seen, is the act of crafting new offers, practices, narratives and strategies, including all goods and services.

When businesspeople and businesses produce fresh, new OPNS whose value and quality can be anticipated to be superior to those produced by competitors,

… they produce identities of superior trustworthiness, value, authority and leadership in the marketplace.

Trust production is “financial” because it enables, and sometimes drives, whether and how businesspeople and businesses make money.

It is “strategic” because identities of superior trustworthiness enable businesspeople and businesses to execute, improve and design new strategies.

It is “competitive” because Buyers will reliably choose to transact with whomever they think is most trustworthy, or with whoever’s OPNS have the most reliable quality or are most trustworthy.

End of Fundamental Business Concerns