The Value of Trust

There is an intriguing idea in economics: that 
the difference between rich and poor countries is 
a matter of trust -- particularly 
institutionalized trust.

http://www.forbes.com/home/
technology/2006/09/22/trust-economy-markets-tech_
cx_th_06trust_0925harford.html

When institutions are trustworthy, it is much 
easier to perform transactions, and security 
costs are far lower.

It should be possible to apply this idea inside 
organizations, and even to individual bosses.  If 
the boss has a system in place to allow the 
co-workers to trust each other (e.g. by punishing 
treacherous behavior) there should be much less 
wasteful office politics, and far more actual 
work being done.

So, a good boss should focus not just on the next 
deadline, but on building trust within the 
organization.

posted on 1167844587.81 by SiteAdmin