Wednesday, October 14, 2009

"Relationship Capitalism - Gaining Wealth in a Connected World"

The time has come where it is evident that capitalism as we know it must adapt to serve the diverse interests of a global economy. Maximizing Profits as a single and overiding objective for corporations large and small is not enough.

In a interconnected world where information can flow at the speed of light, relationships with customers, partners, employees, and government regulators must be cultivated and managed more effectively and efficiently.

I propose that we have entered a global economy where relationships and trust must be measured and managed through industry standards. I sit on the governing body of the Relationship Networking Industry Association (www.RNIA.org) and it is taking the lead for developing standards for cultivating trusted relationships and assessing their relationship capital value to individuals and to organizations.

We believe that relationship capital can be objectively measured through commitments and perception scores(also known as Relationship Capital) by other people you serve in your social network.

We cannot cultivate positive relationships if we are not honest, accountable, responsible, respected, supportive, and understand boundaries & trust.

Once we have a basic understanding of the 7 concepts above we can create relationship capital with every interaction on-line or off-line.

We have been measuring relationships all along as individuals in our own way, but now in this internet-connected world we need standards and measurement for this intangible asset class if we want to create higher levels of sustainable performance as individuals and organizations.