Introduction to Research Area and topic
Trust has long been neglected by economic theorists. Individuals including managers, customers, entrepreneurs are not aware of the significance of trust. Trust is highly crucial and vital in a successful business relationship (employees and employers, managers and customers). But what is trust, how could it be strengthened and developed. Up to today, information on this is still vague. A successful company needs individuals and organizations in order to survive because they need people to be keen to work for, supply to, buy from and invest in these companies. For the purpose of analyzing this issue, research has been focused on a specific topic named “what’s important for trustful communication in the business field?”
This question can be separated into sub-questions then answered. These questions include: (1) what is the best relationship between employers and employees, customers and marketers (salesmen); (2) what should be the criteria for customers evaluating the marketer; (3) how can customer identify whether the entrepreneur is trustworthy; (4) how does a manager know if the relationship it has with stakeholders are extremely stable.
The range of resources for this annotated bibliography includes: (1) management journal articles; (2) E-Book from Herriot-watt University E-Library; (3) Google Scholar. By using the above three resources, a balanced response between the theoretical and practical aspect on the research topic can be achieved.
Lars, B. and Deon, N.(2009). ‘Trusting relationships and personal acquaintance: implications for business friendships.’, Journal of General Management, Spring2009, Vol. 34 Issue 3, pp.37-55
Backstrom Lars and Nel Deon, from Lulea University of technology and Deakin Unversity, presented a framework for research on “whether if there are some differences exist between social and business friendships. The writer claims that friendships are rather special human relationships and we could gain supportive, dependable, trustworthy, and loyal interaction from our friends. However, managers tacitly wonder whether it will become less effective when they interact with the organizational stakeholders, i.e. employees, customers, supporters and distributors as friends. Is the interpersonal relationship veritably the same when handling a long-time business contact as it is when spending leisure time with friends. With a number of studies, the author found the win-win situation is to maintain a professional stance between the manager and their customers or other collaborators. I consider this is a very useful book which is related to trust in business friendships. If possible you should read this book first, if you want to study on this topic.
Nienaber, A. M. and Schewe, G.(2011). ‘What’s important for trustful communication with customers?’. Journal of General Management,2011,pp.1-22
Ann-Marie Nienaber and Gerhard Schewe , who researchers from the University of Munster, analysed the different characteristics of trust in a business relationship. For the sake of making decisions, businessman should deal with the mesh of circumstance from diverse possible courses of action. Therefore, trust became a significant concept in explaining new forms of close co-operation between companies(Das and Teng,1998). This article also proposed that one aspect that cannot be dismissed is communication which is an instrument to strengthen and steady trust. The author has conduct a vast of sample study, the empirical results illustrates that trust basic consist of competence, integrity, credibility and reliability. Other vital elements are openness and honesty. In addition, the communication should be up to date, complete and relevant. I consider that it is a extremely useful article which mainly demonstrate the important for trustful communication with customers.
Dr. Ali, H. and Professor Birley, S. (1998). ‘ the...
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