Most corporate administrations professionals diagnose the essentials of the corporate responsibility agenda and its potential impact, for better or worse, on the reputations of their establishments. Honesty and Trust are the best corporate policies and the most important dynamics for an organization’s reputation. Consumers thought that both trust and honest practices in an organization being an “Organization I can trust” are extremely significant as Robert and Dowling (1997) defines it.
The most effective corporate responsibility offer stakeholders series of portraits of an organization’s commitment and performance as works in progress. This kind of approach is steady with the developing spirit of corporate responsibility as a continuing process.
The value of honesty in corporate has apparent and delicate implications. Questioning who profits from corporate honesty can explain why quality is also important. Examining the negative effects of dishonest corporate practices provides insight into the importance of honesty. In fact, it is as supportive as looking at the benefits of corporate honesty. Doing what is ethical because it is the right thing to do is as essential as practicing ethical behavior for the positive consequences.
When honesty is misplaced there can be no trust. You cannot encourage an environment of trust in the absence of ethics and honesty.
When the organization works with ethics it should build trust because it’s a part of its strategic choice. Managers who build trust with their stakeholders will increase their performance but with cautious, it’s not the full trust but the ideal one that varies with different religions and different culture.
Basically, the commitment to honesty will be shown when the organization pays its bills and its employees’ full rights, when it files taxes, reports to investors and makes commitments to its customers. Looked at it from another angle, failing to meet organization responsibilities creates a climate of mistrust and potential illegality, and result in bad reputation.