10 11 12 13 COATICAL: Revumuing Americu s Trust in Dusmess Case Overview Discusses the challenges businesses face in regaining consumers' trust after the scandals that have rocked the past decade. Organizations like the Arthur Page Society and the Business Roundtable Institute for Corporate Ethics have studied why Americans mistrust business and the ways to eam that trust back again. The study revealed that consumers are angy about the imbalance of power, in which businesses get corporate bailouts and continue to make large profits while unemployment remains high. Banks and financial services firms haye among the lowest trust ratings of all businesses. Only 45 percent of global consumers trust financial services institutions, while 47 percent trust banks. Possible solutions to these problems include equalizing the power balance by creating mutual value, regaining consumers' trust, creating quality products, selling them at fair prices, being transparent, treating employees fairly, and practicing social responsibility. To truly regain trust, the old business model of making the most money even at great cost to certain stakeholders no longer works. Now consumers want to know where their money is going and want businesses to act socially responsible. The good news is that businesses in seven states wanting to make a positive change can legally become benefit corporations, which certifies a socially responsible focus. Whatever businesses decide, if they 10 11 12 13 COATICAL: Revumuing Americu s Trust in Dusmess Case Overview Discusses the challenges businesses face in regaining consumers' trust after the scandals that have rocked the past decade. Organizations like the Arthur Page Society and the Business Roundtable Institute for Corporate Ethics have studied why Americans mistrust business and the ways to eam that trust back again. The study revealed that consumers are angy about the imbalance of power, in which businesses get corporate bailouts and continue to make large profits while unemployment remains high. Banks and financial services firms haye among the lowest trust ratings of all businesses. Only 45 percent of global consumers trust financial services institutions, while 47 percent trust banks. Possible solutions to these problems include equalizing the power balance by creating mutual value, regaining consumers' trust, creating quality products, selling them at fair prices, being transparent, treating employees fairly, and practicing social responsibility. To truly regain trust, the old business model of making the most money even at great cost to certain stakeholders no longer works. Now consumers want to know where their money is going and want businesses to act socially responsible. The good news is that businesses in seven states wanting to make a positive change can legally become benefit corporations, which certifies a socially responsible focus. Whatever businesses decide, if they