Trust is a positive expectation that another will not – through words, actions, or decisions – act opportunistically. The two most important elements of the definition are that it implies familiarity and risk. Five key dimension of trust
Integrity --It refers to honesty, conscientiousness and truthfulness. This one seems to be most critical when someone assesses another’s trustworthiness. Competence--It relates to an individual’s technical and interpersonal knowledge and skill. Consistency--It encompasses an individual’s reliability, predictability, and good judgement in handling situations. Loyalty --It is the willingness to protect and save face for another person. Openness—It relies on the person to give you the full truth. Three types of trust
Deterrence based Trust
The most fragile relationships are contained in deterrence based trust. It is based on fear of reprisal if the trust is violated. One violation or inconsistency can destroy the relationship. Individuals who are in this type of relationship do what they say because they fear the consequences from not following through on their obligations. Deterrence based trust will work only to the degree that punishment is possible, consequences are clear, and the punishment is actually imposed if the trust is violated. To be sustained the potential loss of future interaction with the other party must outweigh the profit potential that comes from violating expectations. Most new relationships begin on a base of deterrence. In a new manager –employee relationship the bond that creates this trust lies in the authority held by the boss and punishment he can impose. Knowledge Based Trust:
Most organizational relationships are rooted in knowledge based trust. That is, trust is based on the behavioural predictability that comes from a history of interaction. It exists when you have adequate information about someone to understand them well enough to be able to accurately predict his or...