Business Insight: While trust is hard to build, it is key to being competitive

How do you define trust?

We trust when we believe others will act in our best interests. You might say, ‘I like that person’ or you might have a sense of confidence in someone, but that’s not a reliable trust you can use to make business decisions. Trust is a pretty hard-edged concept that fundamentally depends on three things: the character or integrity of an individual, the ability of that individual to perform, and whether the person possesses the authority or empowerment to deliver on the promises made. If all of these elements aren’t present, you really shouldn’t trust this person.

Why is trust important in an organization?

The Salt Lake Tribune

Joel Peterson
CEO of Peterson Partners and a lecturer
at Stanford Business School

Full Story: http://www.sltrib.com/business/ci_4284268