Trust management (managerial science) | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-02-08

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SUMMARY
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Trust management (management by trust, management through trust) can be conceptualized in two ways. First, as a process by which individual A becomes trustworthy for other individuals. This trust is significant criterion of success and survival because it makes individuals to collaborate with individual A. It is not rare when part of the people try to build fake image of their own reliability because of e.g. personal benefits. Second, as a process of assessing the reliability of other individuals, which is as much important as process of building A’s own reliability. Taking together these two aspects we can formulate the following definition of trust management (Grudzewski, Hejduk, Sankowska, Wańtuchowicz, 2008):
“the activities of creating systems and methods that allow relying parties to:

1. Make assessments and decisions regarding the dependability of potential transactions involving risk
2. Allow players and system owners to increase and correctly represent the reliability of themselves and their systems.”Trust is a container concept used in a broad variety of disciplines. Much work has been done in the field of psychology, sociology, economics, political sciences, philosophy, anthropology and management sciences. Simply defining "trust" is a milestone in management sciences. One can barely speak of coherent research in the field of trust and trust management.
For trust management defined above, there are some crucial assumptions as follows:

1. Some suspicion is often well-founded in competitive organizations; because in the course of unforeseeable political circumstances, the cost of misplaced trust can have a disastrous effect,2. In potentially uncertain, dangerous and risky environment we need to know very well who we can and who we cannot trust and in which circumstances we can do what. Moreover, it is essential to see the necessity of being aware of potential dangers.The essence of trust management is not only to trust, but to decide to what extent we can trust-- and how to create and develop  trusting relationships.
When we are in the situation of trust deficit a climate of resignation ensues.  It brings on consternation and makes it hard to concentrate on agreed targets. We tend naturally to limit mentioned these effects. Then we create "trust substitutes to counteract the climate of uncertainty generated by these effects.(Sztompka, 1998, 2007). These equivalents of trust are as follows:

1. Providentialism – meaning supernatural forces, fortune, God or metaphysical forces.2. Corruption – predicting and having control under the other’s people actions using bribes, favors, favoritism and so on.3. Pressure – it allows directly and unconditionally to control the other’s people actions.4. Isolation (ghettoization) – separating certain ethnical, religion or professional group in unfavorable and threatening it environment, with strong internal loyalty strengthened by Xenophobia and lack of tolerance for the others.5. Paternalism – considered as going in search of strong authority, leader – „quasi father” – who assures missing order, hierarchical harmony and predictability of the group’s life.6. Externalization – it means transferring trust on other external groups or communities together with tendency to idealize procedure of operations, organisational solutions or total quality of institution of targeted group.7. Excessive assistance of legal institutions—when businessmen do not trust each other, they need formal means to secure the transaction (for instance, detailed contracts, bank guarantees, employing certifying notary, and tendency to sue).Trust management needs to be put in practice. The strategy that  ...