Trust and Value-Based Management and Leadership
Management and leadership1 experts generally agree that trust is an essential element of corporate culture and governance in order to ensure the loyalty of employees, customers, shareholders, neighbors, and other stakeholders. This is true whether the corporation is a business, a university, a hospital, or a charitable organization.
Value-based management is a term that has two quite different meanings, but each assumes a level of trust to be fulfilled.
What Is Trust?
“Trust” is the belief in the reliability, truthfulness, and certainty of another person. When there is trust, we can have confidence in the word and pledge of a boss, coworker, or employee. In the words of Charles James Fox in 1785, “the right of governing was not property but a trust.” Trust is based on a compact or covenant between parties that is bound by the word or pledge of each one. Trust does not require a signed document. With trust, each person is expected to be reliable. The manifestations of trust...
- Scott R (2018) How university boards work. Johns Hopkins University Press. pp. 123–125.Google Scholar