Economic downturns always reveal fundamental shifts happening with people, process, technology, and capital. It is like receding water on a beach! The dry sand shows a lot of “stuff” previously covered up.
If you have a broadband interconnection, you have have tremendous power of CHOICE.
The democratization and massive scale of billions of individuals to choose is having a profound impact on competitive markets across the globe. The power for business to control it’s image and reputation is a mirage. High Advertising and PR spending does not guarantee growth in sales. The best a business can do is to invest it’s time and financial capital to influence and build a credible reputation with all it’s key stakeholders (Customers/Clients, Employees, Brand Advocates, Partners, and Suppliers).
To succeed in this emerging social business economy. a business must earn tangible measures of 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.
Trust is a strategic asset and RC makes it more specific and tangible for all online interactions. This has always been the case with offline relationships, but now RC has become an imperative to differentiate people, products, and organizations for competitive success!
The one with the most Relationship Capital (RC) Wins!