The Business Times

Good governance is an imperative among charities as well

Charities that share relevant information willingly, and which keep lines of communication with their stakeholders open will win trust that buoys their mission to do good.

Published Tue, Oct 8, 2019 · 09:50 PM
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WHETHER in a business or a personal partnership, bonds are built on trust. It can take years to earn and only a matter of seconds to lose. Increasingly, trust has become even more important in a world where there is a rising use of the Internet, data and analytics.

In an increasingly digitalised world, people are often second-guessing the content they consume online, and are frequently sceptical of the words and actions of organisations, people and the media. Just consider the rise of "fake news".

This same issue of trust directly impacts charitable organisations or charities as well, which can be a grave problem if not addressed and rectified quickly. The work most charities carry out is made possible through the funds they raise. There have been occasions where funds have been misused, an example being the National Kidney Foundation case in 2005.

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