Since April, the Twelve Weeks to Trust Series has taken readers through fundamental facts about trust, benefits, downsides, formal and informal governance mechanisms that build trust and, I hope, quite a bit more. This final post in the series – though certainly not my final post on trust – is not a summary of theContinue reading “Twelve Practical Ways for Leaders to Build Inter-organizational Trust – Week 12: Twelve Weeks to Trust”
Tag Archives: governance mechanism
9 Ways to Mitigate the Downsides of Over-Trust
It’s only responsible for leaders to understand both the benefits and the downsides of trust in a business context. Only then can they put in place measures to mitigate the potential for opportunism. Gleaned from my research in marketing, economics, business strategy and ethics literature, here are 9 ways you can mitigate the downsides ofContinue reading “9 Ways to Mitigate the Downsides of Over-Trust”
Reputation as a Source of Inter-organizational Trust — Week 8: Twelve Weeks to Trust
Experts believe that intangible assets like brand, client lists, reputation, etc. can be worth up to one-third of a company’s market value. Why? A solid reputation acts as a shortcut to trust – a third party (individual or an organization) acts as a “proof source” or “proxy for trust” vouching for the credibility and goodwillContinue reading “Reputation as a Source of Inter-organizational Trust — Week 8: Twelve Weeks to Trust”
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