A Harvard Business School professor and international entrepreneur explains the crucial ingredient for success in the developing world. Entrepreneurial ventures often fail in the developing world because of the lack of something taken for granted in the developed world: trust. Over centuries the developed world has built up customs and institutions like enforceable contracts, an impartial legal system, credible regulatory bodies, even unofficial but respected sources of information like Yelp or Consumer Reports that have created a high level of what scholar and entrepreneur Tarun Khanna calls “ambient trust.” If a product is FDA-approved we feel confident it’s safe. If someone makes an untrue claim or breaks an agreement we can sue. Police don’t demand bribes to do their jobs. Certainly there are exceptions, but when brought to light they provoke a scandal, not a shrug. This is not the case in the developing world. But rather than become casualties of mistrust, Khanna shows that smart entrepreneurs adopt the mindset that, like it or not, it’s up to them to weave their own independent web of trust—with their employees, partners, clients, and customers—and with society as a whole. This can requires innovative approaches in places where the level of societal mistrust is so high that, as in one example Khanna provides, an official certification of quality simply arouses suspicion—and lowers sales! Using vivid examples from Brazil, China, India, Mexico and elsewhere, Khanna shows how entrepreneurs can build on existing customs and practices instead of trying to push against them. He highlights the role new technologies can play (but cautions that these are not panaceas), and explains how entrepreneurs can find dependable partners in national and local governments to create impact at scale

There is one thing that moves online consumers to click "add to cart," that allows sellers to accept certain forms of online payment, and that makes online product reviews meaningful: trust. Without trust, online interactions can't advance. But how is trust among strangers established on the Internet? What role does reputation play in the formation of online trust? In eTrust, editors Karen Cook, Chris Snijders, Vincent Buskens, and Coye Cheshire explore the unmapped territory where trust, reputation, and online relationships intersect, with major implications for online commerce and social networking. eTrust uses experimental studies and field research to examine how trust in anonymous online exchanges can create or diminish cooperation between people. The first part of the volume looks at how feedback affects online auctions using trust experiments. Gary Bolton and Axel Ockenfels find that the availability of feedback leads to more trust among one-time buyers, while Davide Barrera and Vincent Buskens demonstrate that, in investment transactions, the buyer's own experience guides decision making about future transactions with sellers. The field studies in Part II of the book examine the degree to which reputation facilitates trust in online exchanges. Andreas Diekmann, Ben Jann, and David Wyder identify a "reputation premium" in mobile phone auctions, which not only drives future transactions between buyers and sellers but also payment modes and starting bids. Chris Snijders and Jeroen Weesie shift focus to the market for online programmers, where tough competition among programmers allows buyers to shop around. The book's third section reveals how the quality and quantity of available information influences actual marketplace participants. Sonja Utz finds that even when unforeseen accidents hinder transactions—lost packages, computer crashes—the seller is still less likely to overcome repercussions from the negative feedback of dissatisfied buyers. So much of our lives are becoming enmeshed with the Internet, where ordinary social cues and reputational networks that support trust in the real world simply don't apply. eTrust breaks new ground by articulating the conditions under which trust can evolve and grow online, providing both theoretical and practical insights for anyone interested in how online relationships influence our decisions. A Volume in the Russell Sage Foundation Series on Trust

Best-selling author Charles Feltman updates his business classic, The Thin Book of Trust, with new resources and tools to build trust in the post-pandemic world. Feltman's phenomenal bestseller with almost 100,000 copies sold across two editions outlines in a very simple and quick way the art of building trust between people in organizations as a core essential workplace competency. The updated Thin Book of Trust offers a framework that supports trust building as a workplace competency. It is based on the idea that building trust is a competency, a set of skills that can be learned, improved, and practiced. It will help you continuously improve your ability to build and maintain trust with others. It can also help you create and contribute to a high-trust culture at work. The third edition includes a new study guide and a new resource download page. Charles Feltman says: "Whether you lead others, contribute individually, or serve as a coach, consultant, facilitator, HR or OD professional, your ability to generate and sustain strong trust is critical to the success and well-being of your enterprise. It is my hope this new edition serves you well in becoming an exceptional trust-builder."

Some social theorists claim that trust is necessary for the smooth functioning of a democratic society. Yet many recent surveys suggest that trust is on the wane in the United States. Does this foreshadow trouble for the nation? In Cooperation Without Trust? Karen Cook, Russell Hardin, and Margaret Levi argue that a society can function well in the absence of trust. Though trust is a useful element in many kinds of relationships, they contend that mutually beneficial cooperative relationships can take place without it. Cooperation Without Trust? employs a wide range of examples illustrating how parties use mechanisms other than trust to secure cooperation. Concerns about one's reputation, for example, could keep a person in a small community from breaching agreements. State enforcement of contracts ensures that business partners need not trust one another in order to trade. Similarly, monitoring worker behavior permits an employer to vest great responsibility in an employee without necessarily trusting that person. Cook, Hardin, and Levi discuss other mechanisms for facilitating cooperation absent trust, such as the self-regulation of professional societies, management compensation schemes, and social capital networks. In fact, the authors argue that a lack of trust—or even outright distrust—may in many circumstances be more beneficial in creating cooperation. Lack of trust motivates people to reduce risks and establish institutions that promote cooperation. A stout distrust of government prompted America's founding fathers to establish a system in which leaders are highly accountable to their constituents, and in which checks and balances keep the behavior of government officials in line with the public will. Such institutional mechanisms are generally more dependable in securing cooperation than simple faith in the trustworthiness of others. Cooperation Without Trust? suggests that trust may be a complement to governing institutions, not a substitute for them. Whether or not the decline in trust documented by social surveys actually indicates an erosion of trust in everyday situations, this book argues that society is not in peril. Even if we were a less trusting society, that would not mean we are a less functional one. A Volume in the Russell Sage Foundation Series on Trust

"Unleashed is worth an afternoon of your time, whether or not you are already a leader. It is sparkily written and personal, drawing on the experiences of co-authors (and spouses) Frei and Morriss."— Financial Times Leadership isn't easy. It takes grit, courage, and vision, among other things, that can be hard to come by on your toughest days. When leaders and aspiring leaders seek out advice, they're often told to try harder. Dig deeper. Look in the mirror and own your natural-born strengths and fix any real or perceived career-limiting deficiencies. Frances Frei and Anne Morriss offer a different worldview. They argue that this popular leadership advice glosses over the most important thing you do as a leader: build others up. Leadership isn't about you. It's about how effective you are at empowering other people—and making sure this impact endures even in your absence. As Frei and Morriss show through inspiring stories from ancient Rome to present-day Silicon Valley, the origins of great leadership are found, paradoxically, not in worrying about your own status and advancement, but in the unrelenting focus on other people's potential. Unleashed provides radical advice for the practice of leadership today. Showing how the boldest, most effective leaders use a special combination of trust, love, and belonging to create an environment in which other people can excel, Frei and Morriss offer practical, battle-tested tools—based on their work with companies such as Uber, Riot Games, WeWork, and others—along with interviews and stories from their own personal experience, to make these ideas come alive. This book is your indispensable guide for unleashing greatness in other people . . . and, ultimately, in yourself. To learn more, please visit theleadersguide.com.