Pushing the Reset button

John Hope Bryant is an American financial literacy, poverty eradication activist and above all, a leader of giving hope. He is recently here in Singapore for the Social Innovation Forum '09 and has given a short address to City Harvest Church. He has touched on how the current economy is not a ‘crisis’ but a reset instead. I would like to share how this thinking implicates our current value system and its impact on how consumers view brands around us.

Pushing the Reset button
This economic ‘crisis’ has affected the lives of billions in these 2 years. Word has got out that we are on the recovery path. If we are to purely look at numbers, probably too myopic. The fundamental issue is of power and character imbalance that led to where we are now. All it takes are a group of self proclaim ‘leaders’ who made a series of wrong decisions for themselves. A tipping point of wanting too much and lack of justly character to self correct. This is a fundamental problem of social values that need to be reset which we know is a lot harder to tackle than simply numbers. In Singapore, we are not spared from this harsh reality on our value erosion; rising divorce rates, education scams, underage promiscuity and abandonment of elderly parents. A reset of our values should be in order.

Taking John’s way of love leadership may be an answer to address this reset. Could it be first using love to strengthen and correct our fundamental values? I guess there is only one way to know, try it out!

Resetting brand perspective in the marketplace
Brands that take the brunt of these value scrutiny especially financial institutions have to take the first move to communicate their plans for this reset. Threading back investors and consumers in this process is a tricky process. Surely, consumer perception in their belief of trust and empathy will evolve because of this situation. It will thus filter down to the choice of brands we use tomorrow. Are brands willing to step up and communicate their stand in this reset? Those who do so now will reap the rewards in the days to come.

Picture taken from NTUC Income website.

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