Searching for Trust in the Global Economy

The book "Searching for Trust in the Global Economy" explores how people from different cultures search for and decide to trust new business partners, based on the experiences of 82 managers from 33 countries. It proposes a framework that explains cultural differences in the process, highlighting the interplay between cultural levels of trust and tightness-looseness. The book offers practical advice for building new relationships in the global economy, useful for business leaders, government, and other leaders.

Format: Hardback
Length: 192 pages
Publication date: 17 May 2022
Publisher: University of Toronto Press

Trust is the cornerstone of robust professional connections, yet the manner in which individuals from diverse cultures seek and determine trust differs significantly. Exploring Trust in the Global Economy delves into these cultural disparities, offering insights from 82 managers hailing from 33 distinct countries across four regions worldwide. It sheds light on the prevailing global business climate, with managers sharing their perspectives on how the COVID-19 pandemic disrupted the process of seeking and establishing trust with new business partners.

Jeanne M. Brett and Tyree D. Mitchell present a straightforward framework that elucidates the cultural variations in determining trust in new business partners. They argue that the key to comprehending these differences lies in the interplay between cultural levels of trust and tightness-looseness, or the extent to which a culture firmly upholds its norms. They elucidate how the process of seeking and deciding to trust differs in high-trust, loose cultures found in the West, high-trust, tight cultures prevalent in East Asia, low-trust, tight cultures prevalent in the Middle East/South Asia, and low-trust, loose cultures found in Latin America.

Drawing from managers' firsthand experiences in forging new business relationships across the globe, Searching for Trust in the Global Economy provides valuable practical guidance for individuals seeking to establish and nurture trust in the global economy. Its insights are not limited to business leaders but also extend to government officials, non-profit organizations, and other leaders tasked with building new connections in this dynamic landscape. By understanding and navigating cultural differences, individuals and organizations can foster stronger, more resilient relationships that contribute to the growth and prosperity of the global economy.

Weight: 420g
Dimension: 235 x 159 x 18 (mm)
ISBN-13: 9781487527952