Building trust with stakeholders: the English institutional - - PowerPoint PPT Presentation

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UNIVE VERSI SITY C Y COLLEGE

Building trust with stakeholders: the English institutional perspective

Ruth Farwell Director and Chief Executive

Buckingham nghamshi hire C e Chilterns ns

UNIVE VERSI SITY C Y COLLEGE

TRUST

RESPONSIBILITY ACCOUNTABILITY

Real versus Regulated * Note: Public and private funding

* Ed Smith and Richard Reeves, Papering over the Cracks? – Rules, Regulation and Real Trust, The Work Foundation (February 2006)

Buckingham nghamshi hire C e Chilterns ns

UNIVE VERSI SITY C Y COLLEGE

Real versus regulated trust

• Real trust

– Self and peer regulation – Organisational integrity and governance – Cultural – Holding each other to account

• Regulated trust

– State regulation – Enforcement – Dictated by rules – Reduction in responsibility

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UNIVE VERSI SITY C Y COLLEGE

Shift from regulated to real trust

• Regulated trust

– ‘Micromanagement’ – Government intervention even with HEFCE as a buffer e.g. strategic subjects – Small and separate funding pots to influence behaviour – Tendency to manage on institution’s behalf

• Real trust

– ‘Strategic’ regulation; lighter touch where earned – HEFCE is an exemplar – ‘Single conversation’; reduced reporting and inspection – Longer term funding against strategies

Buckingham nghamshi hire C e Chilterns ns

UNIVE VERSI SITY C Y COLLEGE

The benefits and implications

• Reducing the burden of compliance
• Interface of institution with external

agencies

• Also internal benefits; benefits to the

‘business’; therefore to all stakeholders

• Creating better systems and cultures
• Trusting organisational culture impacts on

reputation and brand image

• Leadership qualities of the CEO