Trust Between Organizations Defined

Mutual trust is a shared belief that you can depend on each other to achieve a common purpose.

 

8 Conditions for Trust

Trust but Verify

 

 

 

Key Benefits of Trusting Business Partnerships

① Confidence

Strategic Alignment

③ Predictability

④ Synergy

⑤ Mutual Creativity

⑥ Improved Performance

 

 

 

Confidence

Trust creates confidence between partners that actions taken will serve both parties' interests.

 

3Ss of Winning in Business

 

 

 

Strategic Alignment

Trust creates the probability that a firm will understand it's partner's actual strategic intent as it participate in alliance.

 

Strategic Alignment

4Ps of a Successful Partnership

 

 

 

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Strategic Management

 

 

 

 

 

Predictability

Once strategic intents are aligned, it is easier for a firm to predict the actions its partner will take as it encounters different situations requiring decisions to be made that will affect the alliance.

 

 

 

Synergy

The companies or teams within a company - can share their know-how to achieve synergy results that exceed the sum or the parts.

 

Master of Business Synergies (MBS)

Synergistic Partnerships

 

 

 

 

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Business Success 360

 

 

 

 

 

Mutual Creativity

Trust frees partners to respond together to the unexpected, which is essential for mutual creativity.

 

Mutual Creativity

Team Creativity

 

 

 

 

 

Improved Performance

Trust a source of competitive advantage. Trust fosters enthusiasm, ensuring the best performance from everyone. Fewer resources to monitor and control the alliance  are allocated because the both parties are known to be trustworthy.

 

 

 

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