In: Operations Management
Describe the role that trust has in a learning relationship. Why do the authors characterize it as “the currency of all commerce”?
Trust is an important component of any kind of relationship and when two entities are involved in learning relationships, the importance of trust gets increased. Trust plays an important role in shaping the outcome of learning relationship in the following ways:
Authors characterize it as "the currency of all commerce" because trust serves as the bedrock of any organization. An organization can manage the short bursts of growth but will soon be met with oblivion if the trust is lacking. Trust shapes individuals, their relationship with each other, and thereby the whole organization. Great organizations are characterized by a high degree of respect and trust between and among people. Trust is an important quotient that is considered as the currency of all commerce and like currency is important for any commercial activity, the importance of trust is also great when we see it vis-a-vis any organization. Trust serves a blood of any relationship and makes organizations and employees work towards their shared goals and shared purpose. The absence of trust is toxic and poisonous for any organization and efforts should be made towards building the relationship which oozes trust because trust is an investment that pays in the long run.
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