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Trust in business networks - Coggle Diagram
Trust in business networks
Meaning and benefits
Enables smooth collaboration and easier problem-solving
Increases knowledge and competence sharing
Enhances innovation and development opportunities
Strengthens and maintains long-term partnerships
Improves business efficiency and performance
Facilitates coordination and decision-making
Issues & Risks
Trust develops slowly but can break down quickly
Too much trust may expose partners to risks
Early warning signs of distrust may be ignored
Trust is situational and must be earned through actions
Developing trust
Open and active communication
Shared understanding of goals and roles
Consistent behavior and keeping promises
Respect, honesty and fairness toward partners
Long-term commitment and patience
Mutual learning and knowledge exchange
Trust & Control
Balanced control supports trust
Too much control
reduced autonomy
distrust
Too much trust
risk of disorganized operations
Balance leads to
security
clarity and direction
shared commitment
= Dynamic system