Trust and Mistrust Radical Risk Strategies in Business Relationships

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Edition: 1st
Format: Hardcover
Pub. Date: 2003-09-18
Publisher(s): WILEY
List Price: $95.48

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Summary

If we trust someone we put ourselves at risk, but we do so voluntarily. In business there may be no way of clinching that deal without engaging in that personal risk, but to deny or externalise that risk is to enter the world of blame and misuse of power. This book reconnects our intuitive understanding of trust with the roots of business risk. When there is a strong enough trust between parties in a business environment, you can: * Be aware of far more of the workings of the environment, including how to generate value for other stakeholders * Strengthen business relationships which help to deal with unimagined opportunities and contingencies * Understand how to develop lean business processes without unnecessary or counterproductive management activities * Manage business risks that could otherwise play havoc with the business When business people deny the importance of trust, when some of their business relationships become cynical and exploitative, then a cycle is formed: lack of trust leads to cynical actions and cynical actions lead to a further erosion of trust. In this book, Aidan Ward and John Smith teach how to trust others and pinpoint real ris k in business.

Author Biography

Aidan Ward and John Smith are partners in Antelope Projects Ltd, a business risk management consultancy with a prime interest in authenticity and trust.

Table of Contents

Preface xi
Glossary xv
An Introduction to Trust 1(36)
The Importance of Trust in Business Environments
3(4)
A Cycle of Abuse
3(2)
The Power and Trust Dilemma
5(2)
Trust in Business
7(9)
What is Trust?
8(3)
Different Types of Trust
11(1)
The Economic Impact of Trust
12(4)
Developing a Trust Model that Works
16(21)
Trust in Context
16(1)
Dimensions of Trust
17(1)
Trust Space Mapping: The Dimensions of Trust
18(3)
The Roots of the Model
21(1)
Living with Business
22(1)
Value Propositions
23(1)
How it All Started
24(1)
Some Model Ideas
25(1)
To Trust or Not to Trust?
26(1)
Immediate Concerns Are Pressing Needs
26(2)
The Nature of Business
28(2)
Overcoming Limitations
30(1)
POSIWID: The Purpose of a System Is What it Does
31(1)
POSIWID: The Model, the Natural World and the Business World
32(2)
The Medium Is the Message
34(1)
A Case of Paying Attention to Trust
34(3)
PART 1 AUTHENTIC TRUST IS THE GOLD STANDARD 37(42)
Conditions Far from Certainty
39(1)
Rational and Reasonable Action
40(1)
Parallel Universes
40(1)
Introducing the Shadow Side
41(2)
1 Authentic Trust
43(8)
Seeing Authentic Trust
45(2)
The Risk of Authentic Trust
47(2)
Applying Checking Behaviour
49(2)
2 The Authentic Trust Benchmark
51(14)
Using the Benchmark
51(1)
The Benchmark
52(3)
Thread 1: The Act of Giving Trust
52(1)
Thread 2: Underpinning Performance
53(1)
Thread 3: Generating Inter-Subjectivity
54(1)
The Threats to Trust Checklist
55(10)
3 The Application of Authentic Trust
65(14)
Sharks and Conmen
67(2)
Putting Our Trust in Devices
69(12)
Relationship Choices
72(2)
Principled Talk and Engagement
74(2)
The Creation of Vulnerability
76(1)
Pretending to Be Trustworthy
77(2)
PART 2 NETWORK TRUST 79(56)
Needs Must
80(1)
Dilemma and Tragedy
81(4)
The Prisoners' Dilemma in Business
82(2)
The Tragedy of the Commons
84(1)
Network Trust Power in Action
85(1)
Proprietary Software, Genetically Modified Crops and Groups
86(2)
4 Network Trust in Action
88(8)
Banking on Network Trust in Action
90(1)
The Good and the Bad
91(1)
Challenging Orthodoxies
92(1)
From Byzantium to the High Street
92(3)
A Byzantine Coda
94(1)
Principled Talk and Engagement in Action
95(1)
5 Radical Strategies for Networks of Value
96(11)
Communicating Across Values
96(1)
Network Risk
97(1)
Commodity Risk to Network Trust
98(2)
Devices, Commodities and Networks
100(3)
Commodity Trust, Hierarchies, Pyramids and Sharp Operators
103(4)
6 A World Running on Network Trust
107(10)
Social Systems Run on Trust
107(5)
Big Structures, Little People
112(2)
The Paradox
114(3)
7 Building Network Trust in an Adversarial World
117(10)
An Adversarial Context
117(2)
Trust Markers: Milestones on the Road to Abuse
119(4)
Radical Trust Strategies in an Adversarial World
123(4)
8 Network Trust and Federation
127(8)
Pluralism, Inconsistency and Robustness
128(3)
The Value of Words
131(4)
PART 3 Authority Trust 135(28)
Deriving Authority Trust
136(1)
Trust in Unitary Worlds
137(1)
The Leadership Question
138(2)
Whistle Blowing
140(1)
The Risk of Authority Trust
141(1)
9 The Crucial Link between Authority Trust and Business Risk
142(11)
The Shadow Side of Process
143(1)
The Customer Is Always Right
144(2)
Control Behaviour and Business Risk
146(2)
Trust Dynamics
148(1)
Reforming Authority Trust
149(1)
Ways Forward
150(3)
10 A Case Study in Authority Trust and Institutions: When POSIWIDs Collide
153(10)
Institutions from the Inside
157(2)
Building Trust in Institutions
159(4)
PART 4 Commodity Trust 163(30)
Its Power and Reach
164(1)
Its Character
165(1)
Its Price
166(1)
Its Scope
167(1)
11 The Commodity Trust Deal and its Effects
168(9)
Models and Systems
170(5)
Reification and Rules
175(2)
12 Commodity Trust and Radical Brand Solutions
177(9)
Commodities and Cash Cows
178(2)
The Supplier Perspective
180(1)
The Brand as Social Token
181(1)
Blue Chip Blues
182(1)
Entrepreneurial Products
183(1)
The Market for Art
184(2)
13 Commodity Trust in Contracts
186(7)
The Other Way Up
188(1)
The Legal Side of Contracts
189(1)
Combining the Worlds
190(3)
PART 5 Managing the Different Sorts of Trust 193(40)
A Gestalt View of Different Types of Trust
193(1)
The Types of Trust
194(2)
Trust in Action
196(1)
The Gestalt of the Context
196(2)
14 The Philosophy of Managing Risk
198(11)
Management and Risk Management
199(1)
Trust as a Precondition
200(1)
Decisions about Trust
201(5)
The Quick and the Dead, aka the Extended and the Amputated: a Question of Opportunity Risk
206(2)
A Second Iteration
208(1)
15 The Cultural Foundations of Trust
209(7)
A Historical Conundrum for the Banks
210(1)
The Political Moment
211(2)
Top-Down Models
213(1)
Trust Is Self-Reinforcing
214(2)
16 Working with Trust, Power and Risk
216(17)
Peddling Solutions
216(1)
Scimitar Risk Management System
217(2)
Perspective
219(2)
Stakeholding
221(5)
Conclusions: The Necessity of Risk and the Shadow Side
226(2)
The Anatomy of a Fall from Trust
228(1)
A Better Way?
229(4)
Annotated Bibliography 233(14)
Index 247

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