35 Posts Found

Even though people seek trade because of self-interest…nevertheless an economy can operate effectively only on the basis of trust among different parties.

Content: Quotation | Author: Amartya Sen | Source: The New York Review of Books | Subjects: Economics, Trust

In a world where trust is more perishable than ever—where one negative experience can color a buyer’s perceptions forever—businesses must figure out how to effectively capitalize on the trust they have built while at the same time protecting their hard-won reputations. They must also learn how to harness the democratization of information—particularly the Web-based input and unfiltered opinions of self-anointed “experts” and dissatisfied customers—to help … [ Read more ]

Content: Quotation | Authors: Karen Crennan, Marcia A. Halfin, Paul F. Nunes | Source: Outlook Journal (Accenture) | Subjects: Reputation, Trust

Trust is the business word for love.

Content: Quotation | Author: Michael Price | Source: Feld Thoughts | Subject: Trust

Trust is essential, especially in any complex purchase that can be intellectually intimidating. You have to establish trust before you can build a relationship. And you have to build the relationship before you can win real business.

You create credibility that leads to trust by doing three things: (1) demonstrating your empathy and understanding of the prospect’s concerns; (2) telling stories that illustrate your value to … [ Read more ]

Content: Quotation | Source: MarketingProfs | Subjects: Marketing / Sales, Trust

Trust always affects two measurable outcomes-speed and cost. When trust goes down, speed goes down and cost goes up. This creates a trust tax. When trust goes up, speed goes up and cost goes down. This creates a trust dividend. It’s that simple, that predictable.

Content: Quotation | Source: Chief Executive | Subject: Trust

A flipside of risk is trust. Trust is implicit in any dialogue between a company and its shareholders or any of its stakeholders. Trust is implicit in any discussion about the future in conditions of uncertainty…Any increased understanding of risk will tend to increase trust; while a dialogue that is risk-blind will tend to decrease trust especially over time as the unexpected inevitably occurs. By … [ Read more ]

Content: Quotation | Source: European Business Forum (EBF) | Subjects: Risk Management, Trust

For trust to be anything truly meaningful, you have to trust somebody who isn’t trustworthy. Otherwise, it’s just a standard rational transaction. The relationships among leaders and those between leaders and their followers certainly involve elements of simple exchange and reciprocity, but humans are capable of, and often exhibit, more arbitrary sentiments of commitment to one another.

Content: Quotation | Source: Harvard Business Review | Subjects: Organizational Behavior, Trust

You may be deceived if you trust too much, but you will live in torment if you do not trust enough.

Content: Quotation | Source: Help Desk Institute Austin | Subject: Trust

The glue that holds all relationships together — including the relationship between the leader and the led is trust, and trust is based on integrity.

Content: Quotation | Source: Zaadz | Subjects: Integrity, Trust

A force critical to lowering transaction costs is trust. Trust substitutes for search, negotiation, monitoring, and enforcement; it substitues for hierarchical control internally and for the legalisms of contracts externally. The core elements of trust are threefold: reciprocity (the understanding that the parties will deal with each other repeatedly), reputation (the understanding that other potential parties are watching), and a common semantic (a shared language … [ Read more ]

Content: Quotation | Source: Boston Consulting Group (BCG) | Subjects: Economics, Trust

Is your firm built on closure? Closure means coming to a specific agreement about what will be done, by whom, with a specific date for completion. You don’t leave anything dangling. “I’ll get you the report” isn’t closure because there is no time by which it will arrive. “I’ll do what I can” isn’t closure because there is no specific agreement for what will be … [ Read more ]

Content: Quotation | Source: Business 2.0 | Subjects: Organizational Behavior, Trust

Much of the frustration of everyday life can be traced to false commitments. Bounced checks, late deliveries, shoddy work, unreturned emails, laundered shirts with missing buttons, poor work performance, broken partnerships, and so on – under close examination, all of these involve issues with “commitments” that were made but not kept.

An organizational culture in which people consider their commitments carefully, and in which they absolutely … [ Read more ]

Content: Quotation | Source: Business 2.0 | Subjects: Organizational Behavior, Trust

The principle behind the Leadership Organization is that people have an innate, passionate desire to contribute. Opposing this urge to contribute is fear – fear of rejection, failure, loss, retribution, or embarrassment…Earned trust tips the balance between the urge to contribute and fear. When we work in an environment of trust, and one in which leadership models trust, we feel reinforced, validated, and supported, even … [ Read more ]

Content: Quotation | Source: Business 2.0 | Subjects: Organizational Behavior, Trust

Focus and attention convey genuine respect, which is the cornerstone of trust.

Content: Quotation | Source: Leader to Leader | Subjects: Personality / Behavior, Trust

People don’t trust you because they understand you – they trust you because you understand them.

Content: Quotation | Source: CEO Refresher | Subjects: Personality / Behavior, Trust