Trust can be both emotional and logical. Emotionally, it involves exposing vulnerabilities while believing people will not take advantage. Logically, it assesses risks and rewards of trusting someone based on their past behavior. There are several dimensions of trust: 1) Predictability - trusting people will behave predictably, 2) Value exchange - trusting exchanges will be fair when full knowledge is lacking, 3) Delayed reciprocity - trusting people by giving first with expectation of future repayment, 4) Exposed vulnerabilities - trusting people not to take advantage of vulnerabilities shared. At work, there are three types of trust - deterrence-based for new relationships, knowledge-based for most work relationships, and identification-based as the highest level
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Learn to Write Professional Resignation Letter
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Learn to write professional resignation letterBizeducator.com
Learn to Write Professional Resignation Letter
If you want to resign from your current position you can find below some of the most professional resignation letter:
In international business where laws, communication and regular contact is weak when compared to working in the same country or city, trust becomes important. How do you develop it? Over the years, I have tried and studied some strategies that have worked for me. Have a look at this presentation. I hope it is helpful.
Trust is the most fundamental building block of any relationship whether in business, politics, marriage, family or friendships. In the real world, trust signifies different things to different people but it frequently boils down to one point: trust is essential to your success.
Myth 1: Leaders work smarter, not harder.
I have never fully understood the “work smarter, not harder” statement. There are definitely ways to be smarter about prioritizing your tasks effectively, planning your day wisely to increase your productivity, and, as a leader, to know when and what tasks to delegate. But every single successful person I know have always worked very hard on realizing his/her dreams. Great leaders empower their teams to do more, they are very protective of their time, and they are shrewd in applying their knowledge and experience in order to move forward and avoid mistakes either they themselves or others made in the past. One could call that “working smart”. But nothing great has ever been achieved without working hard. True leaders lead by example, they are first in and last ones out, they are fully invested in the vision of their ventures and, through showing their dedication, they inspire people around them to show the same kind of commitment and display the same behaviors.
Gary Vaynerchuk is a successful serial entrepreneur and his perspective is that there is no substitute for doing the work. “We’re living through a period right now where we have a lot of very smart people looking at math, and analytics, and efficiencies,” says Vaynerchuk. “I think those are all great things to take pride in, but I also think you need to put in the work… You can call out all the best business opportunities you want, but the bottom line is that nobody ever got paid to make snow-angels.”
“I never dreamed about success. I worked for it.” –
“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –
Myth 2: Leaders have all the answers.
On the contrary. The best leaders have a clear understanding of their own limitations. They know that success is a team sport and there is no such thing as a “self-made” man. They realize that it takes a diverse team to truly innovate. They search for passionate people in diverse areas of expertise and bring them together. Great leaders listen more than they speak. They listen with the goal to understand, not the goal to answer. They hire amazing teams and solicit regular input from team members. They admit their mistakes and empower their people to execute on the company’s vision through their own knowledge and initiative vs. a dictate from above.
Truly amazing leaders empower others to become leaders. Their higher goal is to work themselves out of the job so that if they are not around, the organization functions just as successfully as when they are.
“Leaders don’t create more followers, they create more leaders.” –
“A leader is best when people barely know he exists, when his work is done, his aim fulfilled,
Myth 3: Great leaders are always in the spotlight.
It is true that if you are a leader of the company there is an expectation that you will also be a company’s spokesperson. But leadership
In The Trust Edge, David Horsager reveals the foundation of genuine success- — trust. Based on research but made practical for today’s leader, The Trust Edge shows that trust is quantifiable and brings dramatic results to businesses and leaders.
In this book, Horsager teaches readers how to build the Eight Pillars of Trust.
When leaders learn how to implement these pillars, they enjoy better relationships,
reputations, retention, revenue and results. Fascinating and timely, The Trust
Edge unveils how trust has the ability to accelerate or destroy any business, organization or relationship. The lower the trust, the more time everything takes, the
more everything costs and the lower the loyalty of everyone involved. Conversely,
an environment of trust leads to greater innovation, morale and productivity. The
trusted leader is followed. From the trusted salesperson, people will buy. For the
trusted brand, people will pay more, come back and tell others. Trust, not money,
is the currency of business and life!
Trust is recognized as an important factor that mediates many aspects of human behavior (Camerer, 2003). Definitions of trust vary but a widely accepted one is that it is a psychological state comprising the intention to accept vulnerability based upon positive expectations of the intentions or behavior of another. Therefore, a person (the trustor) who depends on someone else (the trustee) expects to reduce the likelihood or size of a negative outcome in some situation, such as when that dependence is misplaced, the expected value of the outcome is lower.
In international business where laws, communication and regular contact is weak when compared to working in the same country or city, trust becomes important. How do you develop it? Over the years, I have tried and studied some strategies that have worked for me. Have a look at this presentation. I hope it is helpful.
Trust is the most fundamental building block of any relationship whether in business, politics, marriage, family or friendships. In the real world, trust signifies different things to different people but it frequently boils down to one point: trust is essential to your success.
Myth 1: Leaders work smarter, not harder.
I have never fully understood the “work smarter, not harder” statement. There are definitely ways to be smarter about prioritizing your tasks effectively, planning your day wisely to increase your productivity, and, as a leader, to know when and what tasks to delegate. But every single successful person I know have always worked very hard on realizing his/her dreams. Great leaders empower their teams to do more, they are very protective of their time, and they are shrewd in applying their knowledge and experience in order to move forward and avoid mistakes either they themselves or others made in the past. One could call that “working smart”. But nothing great has ever been achieved without working hard. True leaders lead by example, they are first in and last ones out, they are fully invested in the vision of their ventures and, through showing their dedication, they inspire people around them to show the same kind of commitment and display the same behaviors.
Gary Vaynerchuk is a successful serial entrepreneur and his perspective is that there is no substitute for doing the work. “We’re living through a period right now where we have a lot of very smart people looking at math, and analytics, and efficiencies,” says Vaynerchuk. “I think those are all great things to take pride in, but I also think you need to put in the work… You can call out all the best business opportunities you want, but the bottom line is that nobody ever got paid to make snow-angels.”
“I never dreamed about success. I worked for it.” –
“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –
Myth 2: Leaders have all the answers.
On the contrary. The best leaders have a clear understanding of their own limitations. They know that success is a team sport and there is no such thing as a “self-made” man. They realize that it takes a diverse team to truly innovate. They search for passionate people in diverse areas of expertise and bring them together. Great leaders listen more than they speak. They listen with the goal to understand, not the goal to answer. They hire amazing teams and solicit regular input from team members. They admit their mistakes and empower their people to execute on the company’s vision through their own knowledge and initiative vs. a dictate from above.
Truly amazing leaders empower others to become leaders. Their higher goal is to work themselves out of the job so that if they are not around, the organization functions just as successfully as when they are.
“Leaders don’t create more followers, they create more leaders.” –
“A leader is best when people barely know he exists, when his work is done, his aim fulfilled,
Myth 3: Great leaders are always in the spotlight.
It is true that if you are a leader of the company there is an expectation that you will also be a company’s spokesperson. But leadership
In The Trust Edge, David Horsager reveals the foundation of genuine success- — trust. Based on research but made practical for today’s leader, The Trust Edge shows that trust is quantifiable and brings dramatic results to businesses and leaders.
In this book, Horsager teaches readers how to build the Eight Pillars of Trust.
When leaders learn how to implement these pillars, they enjoy better relationships,
reputations, retention, revenue and results. Fascinating and timely, The Trust
Edge unveils how trust has the ability to accelerate or destroy any business, organization or relationship. The lower the trust, the more time everything takes, the
more everything costs and the lower the loyalty of everyone involved. Conversely,
an environment of trust leads to greater innovation, morale and productivity. The
trusted leader is followed. From the trusted salesperson, people will buy. For the
trusted brand, people will pay more, come back and tell others. Trust, not money,
is the currency of business and life!
Trust is recognized as an important factor that mediates many aspects of human behavior (Camerer, 2003). Definitions of trust vary but a widely accepted one is that it is a psychological state comprising the intention to accept vulnerability based upon positive expectations of the intentions or behavior of another. Therefore, a person (the trustor) who depends on someone else (the trustee) expects to reduce the likelihood or size of a negative outcome in some situation, such as when that dependence is misplaced, the expected value of the outcome is lower.
2. INTRODUCTION
Trust is both and emotional and logical act. Emotionally, it is where
you expose your vulnerabilities to people, but believing they will not
take advantage of your openness. Logically, it is where you have
assessed the probabilities of gain and loss, calculating expected
utility based on hard performance data, and concluded that the
person in question will behave in a predictable manner. In practice,
trust is a bit of both. I trust you because I have experienced your
trustworthiness and because I have faith in human nature.
We feel trust. Emotions associated with trust include
companionship, friendship, love, agreement, relaxation, comfort.
There are a number of different ways we can define trust. Here are
the dimensions of trust and consequent definitions.
3. Predictability
It is a normal part of the human condition to be constantly
forecasting ahead. We build internal models of the world based
both on our experiences and what others tell us, and then use
these to guess what will happen next. This allows us to spot and
prepare for threats and also make plans to achieve our longer-
term goals.
The greatest unpredictability is at 50%; a reliable enemy can be
preferable to an unpredictable friend, as at least we know where
we are with them.
Definition 1: Trust means being able to predict what other people
will do and what situations will occur. If we can surround ourselves
with people we trust, then we can create a safe present and an
even better future.
4. Value exchange
Most of what we do with other people is based around exchange,
which is the basis for all businesses as well as simple relationships.
At its simplest, it is exchange of goods. I will swap you two sheep for
one cow. It is easy to calculate the value in such material bargaining.
Things get more complex when less tangible forces come into play. A
parent exchanges attention for love. A company exchanges not only
pay but good working conditions for the intellectual and manual
efforts of its workforce.
Trust in value exchange occurs when we do not know fully whether
what we are receiving is what we expect. When we buy a car, don’t
want to be sold a ringer which the seller knows is faulty. When I get
advice in business, I want it to be based on facts, not wild opinions.
Definition 2: Trust means making an exchange with someone when
you do not have full knowledge about them, their intent and the
things they are offering to you.
5. Delayed reciprocity
Exchange is not just about an immediate swapping of cows and
sheep or hugs and kisses. What makes companies and societies
really work is that something is given now, but the return is paid
back some time in the future. The advantage of this is that we can
create a more flexible environment, where you can get what you
need when you need it, rather than having to save up for it.
Trust now becomes particularly important, because otherwise we are
giving something for nothing. The delay we have placed in the
reciprocal arrangement adds a high level of uncertainty which we
need to mitigate through trust.
What is often called the ‘golden rule’ is a simple formula for creating
trust. ‘Do unto others as you would have them do unto you.’ It sets
up the dynamic for my giving you something now with the hope of
getting back some unspecified thing in the indeterminate future.
Definition 3: Trust means giving something now with an expectation
that it will be repaid, possibly in some unspecified way at some
unspecified time in the future.
6. Exposed vulnerabilities
When we trust other people, we may not only be giving them
something in hope of getting something else back in the future, we
may also be exposing ourselves in a way that they can take
advantage of our vulnerabilities. If I buy a car from you and I do
not know a good price, you can lie to me so you get a better
bargain. If I tell you in confidence about the problems I am having
with work, you could use this to further your own career at my
expense.
Although the threat of retribution or projected feelings of guilt can
counteract your temptation to abuse my exposed vulnerabilities, if
you succumb I still get hurt and may still end up with the shorter
stick. For our transaction to complete successfully, I must be able
to trust that such agonies will not come to pass.
Definition 4: Trust means enabling other people to take advantage
of your vulnerabilities—but expecting that they will not do this.
8. Most people don’t fail at work because of incompetence. Most
people who struggle in the workplace do so because they don’t
understand the culture of their organization. The culture is the
unspoken rules of the environment. It’s how your company runs
despite what it says in the employee manual or in the press
releases.
While there can be many components to an organization’s culture,
trust seems to be a driving component of how relationships are
maintained and, as a result, how business is done. If you don’t
understand what is driving relationships in your organization, you
risk existing outside the sphere of influence, working hard,
accomplishing tasks, and wondering why your work is not being
acknowledged or rewarded.
9. Deterrence-Based Trust
Most new relationships start at this level of trust.
One violation of expectations or an inconsistency in behavior
can destroy the relationship.
There is not much disclosure at this level because parties are
trying to avoid doing anything to sever the relationship
before it can develop.
10. Knowledge-Based Trust
Most organizational relationships are at this level.
Trust is not necessarily broken by inconsistent behavior at
this level.
This level relies on information rather than deterrence.
11. Identification-Based Trust
This is the highest level of trust. It is achieved when there
is an emotional connection between the parties.
Controls are minimal at this level.
This is the type of trust that managers and leaders seek in
teams.