Encyclopedia of Business and Professional Ethics

Living Edition
| Editors: Deborah C Poff, Alex C. Michalos

Trust and Value-Based Management and Leadership

Living reference work entry
DOI: https://doi.org/10.1007/978-3-319-23514-1_323-1

Introduction

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...

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References

  1. Scott R (2018) How university boards work. Johns Hopkins University Press. pp. 123–125.Google Scholar

Copyright information

© Springer International Publishing AG 2018

Authors and Affiliations

  1. 1.Adelphi UniversityGarden CityUSA

Section editors and affiliations

  • Anthony F. Libertella
    • 1
  • Samuel Natale
    • 2
    • 3
  1. 1.Willumstad School of BusinessAdelphi UniversityNew YorkUSA
  2. 2.Adelphi UniversityNew YorkUSA
  3. 3.Visiting Fellow, School of Education, University of Cambridge, England Division of Educational Leadership, Policy, Evaluation & Change (ELPEC) academic groupCambridge UniversityCambridgeUK