stakeholder-trust

Vocabulary Word

Definition

'Stakeholder-trust' refers to the trust that stakeholders, or the people who have a vested interest in a business, have in that business. This trust is developed when the business consistently shows that it values the stakeholders' viewpoints and concerns.

Examples in Different Contexts

For investor relations, stakeholder trust is crucial for securing and maintaining investment. An investor relations officer might explain, 'We build stakeholder trust by providing transparent financial reports and regular updates on our company's performance and strategy.'

Practice Scenarios

Business

Scenario:

Our focus should be on open and transparent communications through all levels of our company. This would surely engage our stakeholders more effectively.

Response:

I believe increasing 'stakeholder-trust' through transparent operations will be our key piece in the puzzle of company growth.

Tech

Scenario:

The recent data breach has affected our user base. A renovation of our data security protocols and systems should be our top priority.

Response:

I agree. We need to restore our 'stakeholder-trust' by overhauling our data security systems and assuring them of their data safety.