Many business strategists are familiar with the acronym VUCA, which is modern military jargon for a "volatile, uncertain, complex and ambiguous" world. At the same time, public trust in businesses is at an all-time low, according to the newest data from the 20th annual GlobeScan Radar Report, which tracks societal views of businesses from over 20 countries.
In order to "look beyond the fray and the friction of the past couple years and to a clearer, resonant vision" of the pathway that's required for sustainability, we need a paradigm shift, said Chris Coulter, co-CEO of GlobeScan.
The remedy for a low-trust world is "Vuka," the Zulu word for "wake up!" Coulter discusses how trust is the key to the future of businesses and links it to company purpose, corporate responsibility, transparency and consumer engagement.