Trust is very important to business relationships. With the explosive growth of social networking and social media, it will be critical for business success to capture, measure, and utilize Relationship Capital (RC).
Relationship Capital (RC) is an accounting of the interactions between “entities”, including people, businesses and products. Interactions include Commitments (actions) and Perceptions (thoughts and feelings). Entities earn RC by keeping Commitments and obtaining positive Perceptions. They receive a Relationship Capital Point (RCP) for each fulfilled Commitment, and an RCP, or a fraction thereof, for each positive Perception obtained. RCPs are deposited in an RC Account under the strict control of its owner entity.
The objectives of RC are to provide a common vocabulary for relationship interactions and to account for the interactions as they occur. Accordingly, RC uses a “standard-in-the-cloud” platform to enable entities to engage in interactions and capture RCPs in near real time. The platform is provided by RNIA, an independent body.
An ecosystem of early adopter business leaders has already formed to have their interactions of themselves, their people and products scored by RC. Trust is earned in business and RC measures it with every interaction.
Do you know your Relationship Capital (RC) Score?