Why is building trust in business extremely powerful?
Most business-to-business (B2B) relationships are purely transactional, however, willingness to be vulnerable with other parties, and to work with them based on an assessment of their ability and credibility in their field, can result in a mutual value exchange and partnership development over time.
In this episode, Dr Mark Hollyoake explains his concept of the ‘S’ Curve of Trust, along which businesses can move as they share more information about one another and thus become increasingly interdependent.
Quote: “The more there’s a common understanding and alignment, the more there is the sharing of plans and future aspirations that can make that initial transactional relationship far more immersive, and the two parties can work together for a common goal or a common good or for those mutual values.”
- B2B Trust Research: What are Boundary Spanners? - January 31, 2024
- A Business to Business Model of Trust - June 27, 2023
- Dr Mark Hollyoake joins Ecclesiastical podcast to talk about why building trust in business is extremely powerful? - June 20, 2023