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Trust (The business case for trust (The fact that trust each other is good…
Trust
The business case for trust
The fact that trust each other is good
The benefits of trusting others
Greater effectiveness and creativity to serve customers
Development opportunities for others
Reciprocal effect
We may not trust everyone
But trust can exist at social level, not just personal level
We can start with personal level, then create an organization with high trust
Leading with trust, managing trust
Trust can be created by shared values
Transparency
Benefit person and organization
Related virtues
Honesty and authenticity
Confront difficulties
Long-term orientation
May not trust people who take advantage of us
Value relationships via transaction
Collaboration
Highlight the ideas trust is a relationship
Other-focused
Reflect trust is reprocal
Consider customers’ needs before selling
Managing trust
Role modeling
Talking the values
The heart of business and leadership
Very crucial and necessary
Not about a system
But is related to human relationships
With high trust
People and organization enjoy support
Feel loyal, motivated
Cost decline
More effective
Trust: a personal relationship
Trust is personal
A trust relationship looks like
Two asymmetrical roles: trust and being trusted
The risk
Trust can work with it
Reciprocating two roles
You can’t only play one role
The two roles need to take risks to maintain trust
Trustworthiness
Trust is a dance with two players
The best way to be trusted is to be trustworthy
The virtues of trustworthiness
Credibility
Words
Reliability
Action
Needs time to gain
Intimacy
A sense of security
Self-Orientation
The higher the self-orientation is , the lower the trustworthiness is
High self-orientation: selfishness and self-obsession
May cause nervousness and fight, but also a chance to create trust
The trustworthiness equation
Credibility + Reliability + Intimacy / Self-orientation
Trusting
The propensity to trust
A person’s innate propensity to trust strangers
Low level means the person overstates near-term negativeness and understates long-term positiveness
The risk of trusting
The tactical decision to trust
Influenced by deep personal outlooks
By his attitude to risk
By environmental influences
By bias
Not easy to realize and overcome