What underlying assumptions about centralized trust do you make in your own work? How would instantaneous peer-to-peer trust with no need for a centralized third party change things? If you could meet a stranger and be able to enter into a trusted exchange without needing a third party, what changes in your theoretical perspective on the world? That model of interaction is what distributed trust … [ Read more ]
Content: Quotation | Author: Marc-David Seidel | Subjects: Economics, Management, Organizational Behavior, Trust
Trust is seen by many managers as one of those soft issues best discussed in a sensitivity seminar. However, science clearly shows that a culture of trust stimulates productivity and innovation while also improving employee health and happiness. And after a decade of experiments, science also shows us how to build trust.
This article looks inside our heads to explain why trust is an effective means … [ Read more ]
Content: Article | Author: Paul J. Zak | Source: Ivey Business Journal | Subjects: Management, Organizational Behavior, Trust
If you don’t consistently teach more and more people how to make the decisions or find resolutions consistent with your company’s goals, you’re going to stall out. Trust saves a huge amount of time.
Content: Quotation | Author: Claire Hughes Johnson | Source: First Round Review | Subjects: Management, Training & Development, Trust
Most leaders understand the science of building trust. They understand that they need to think and communicate clearly about product and strategy and make good choices when they are hiring and promoting people into leadership positions. They understand that they have to show deep commitment and get things done. But in my experience, the truly great leaders also understand the art of building trust. Leaders … [ Read more ]
Content: Quotation | Author: Ali Rowghani | Subjects: Leadership, Trust
[Joel] Peterson provides three tests for deciding who to trust. The first is character. “We can’t trust a leader without integrity, who we can’t count on to do what he or she says,” he explains. Next is competence. You trust your mom, for example, but would you trust her to fly a 747 to London? The third, he says, is authority to deliver. There’s no … [ Read more ]
Content: Quotation | Authors: Joel Peterson, Theodore Kinni | Source: Stanford University | Subjects: Leadership, Management, Organizational Behavior, Trust
Leaders must hone their ability to sort through the various motivations. Most chief executives learn to ask themselves these three questions:
1. Who’s telling me what they think I want to hear?
2. Who’s not telling me what I need to hear because they are being deferential?
3. Who’s telling me what they want me to hear because it serves their own agenda?
Content: Quotation | Author: Thomas J. Saporito | Source: Chief Executive | Subjects: Communication, Leadership, Trust
The most important question. It’s not:
Is my price low enough?
Is it reliable enough?
Do I offer enough features?
Am I on the right social media channels?
Is the website cool enough?
Am I promising enough?
No, the most important question in marketing something to someone who hasn’t purchased it before is, “Do they trust me enough to believe my promises?” Without that, you have nothing.
Content: Quotation | Author: Seth Godin | Subjects: Customer Related, Marketing / Sales, Trust
I have no authority other than the trust of the community, but having another person’s trust is more powerful than all other management techniques put together.
Content: Quotation | Author: Linus Torvalds | Source: Ivey Business Journal | Subject: Trust
Trust—defined as expectations set plus expectations met—is critical to customer satisfaction and engagement. Unless expectations are explicitly set customers will come up with their own, based on a collective history of best and worst experiences. And this presents companies with an impossible dilemma: Failed execution against unknown expectations.
Content: Quotation | Source: Accenture | Subjects: Customer Related, Trust
The essence of leadership is to get results in a way that inspires trust. Although there are many behaviors that create trust, none offers greater leverage than listening. Yet, remarkably, it remains something many managers fail to do well.
Content: Quotation | Author: Stephen R. Covey | Source: strategy+business | Subjects: Leadership, Management, Organizational Behavior, Trust
The first job of any leader is to inspire trust. Trust is confidence born of two dimensions: character and competence. Character includes your integrity, motive, and intent with people. Competence includes your capabilities, skills, results, and track record. Both dimensions are vital. …You might think a person is sincere, even honest, but you won’t trust that person fully if he or she doesn’t get results. … [ Read more ]
Content: Quotation | Author: Stephen R. Covey | Source: LeadershipNow | Subjects: Leadership, Management, Organizational Behavior, Trust
Trust is the basis of agility, of flexibility. Yet it’s an incredible challenge to establish trust and maybe even harder to maintain it. Underlying the challenge is the question of how to institutionalize trust between buyer and supplier. I’ve got colleagues who maintain that trust can only be established between individuals. But a few souls like Robert and myself say we’ve got to be able … [ Read more ]
Content: Quotation | Source: Harvard Business School (HBS) Working Knowledge | Subject: Trust
If productive influence doesn’t arise from being liked (“I’m your friend!”) or from fear (“I’m the boss!”), where does it come from? From people’s trust in you as a manager. That trust has two components: belief in your competence (you know what to do and how to do it) and belief in your character (your motives are good and you want your people to do … [ Read more ]
Content: Quotation | Authors: Kent L. Lineback, Linda A. Hill | Source: Harvard Business Review | Subjects: Management, Trust
We tend to equate [lack of trust and distrust], but social scientists such as Sim B. Sitkin and Nancy L. Roth argue that there’s an important difference. A lack of trust results when your expectations about how a person should behave aren’t met. As Sitkin and Roth point out, laws and regulations help address those situations by acting as effective deterrents. In contrast, distrust arises … [ Read more ]
Content: Quotation | Author: Joel M. Podolny | Source: Harvard Business Review | Subject: Trust
One of the frameworks that resonates with me is a cycle called knowledge, experience, and trust. You capture knowledge about the person or the entity, you translate that into an experience that the person has, and that builds trust. And trust starts the cycle over again, because if you trust someone they’ll give you more knowledge about them and you keep going. And trust also … [ Read more ]
Content: Quotation | Author: Jon Spector | Source: Chief Executive | Subjects: Personality / Behavior, Trust
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