Top 6 – April 2012
Published April 1, 2012
Trust is composite belief based on Honesty, Competence, and Benevolence. If you want to build trust … deliver on all three.
- Honesty: Do the things you claim reflect what you believe to be true?
- “Trust is the lubrication that makes it possible for organizations to work.” Warren G. Bennis
- Competence: Are you in a position to make these claims? Are you able to carry out your promises?
- “You can fool some of the people some of the time, but you can’t fool all of the people all of the time.”
- Benevolence: Are you lending support that will actually help me achieve my goals? Do you have my best interest at heart?
- “The best way to find out if you can trust somebody is to trust them.” Ernest Hemingway
About The Author
Tim J. Smith, PhD, is the founder and CEO of Wiglaf Pricing, an Adjunct Professor of Marketing and Economics at DePaul University, and the author of Pricing Done Right (Wiley 2016) and Pricing Strategy (Cengage 2012). At Wiglaf Pricing, Tim leads client engagements. Smith’s popular business book, Pricing Done Right: The Pricing Framework Proven Successful by the World’s Most Profitable Companies, was noted by Dennis Stone, CEO of Overhead Door Corp, as "Essential reading… While many books cover the concepts of pricing, Pricing Done Right goes the additional step of applying the concepts in the real world." Tim’s textbook, Pricing Strategy: Setting Price Levels, Managing Price Discounts, & Establishing Price Structures, has been described by independent reviewers as “the most comprehensive pricing strategy book” on the market. As well as serving as the Academic Advisor to the Professional Pricing Society’s Certified Pricing Professional program, Tim is a member of the American Marketing Association and American Physical Society. He holds a BS in Physics and Chemistry from Southern Methodist University, a BA in Mathematics from Southern Methodist University, a PhD in Physical Chemistry from the University of Chicago, and an MBA with high honors in Strategy and Marketing from the University of Chicago GSB.
I’d be curious as to who the author is, as I’d prefer to quote with attribution.
Given this definition, it is easy to see how some organizations are perceived as trustworthy and others are not.
I don’t know who to cite for the “quote” other than Dr. Wiglaf (me) as these are Dr. Wiglaf’s words, … but the research behind the concept which I am trying to communicate can be found here:
An Integrative Model of Organizational Trust
Roger C. Mayer, James H. Davis and F. David Schoorman
The Academy of Management Review , Vol. 20, No. 3 (Jul., 1995), pp. 709-734
Published by: Academy of Management
Article Stable URL: http://www.jstor.org/stable/258792