Loss of Trust is a Tax

Emery Koenig is retired Vice Chairman and Chief Risk Officer at Cargill, where he worked for 37 years managing operations around the globe.

Emery shares how maintaining trust has huge beneficial dividends, and a loss of trust ends up being a tax that costs at many levels.

Discussion Questions

1. Emery points out that the loss of trust is a tax. Can you think of examples where you have seen that occur in business, or otherwise– that losing trust leads to greater inefficiencies?
2. Have you seen examples in business where trust was lost? What were consequences of that loss of trust?
3. What are key ways to ensure that you maintain trust with others in business?

Possible Assignment/Activities

Have students read “ADAM SMITH’S ESSENTIALS: ON TRUST, FAITH, AND FREE MARKETS BY JERRY EVENSKY and then watch this clip about trust, and the costs of losing it.