Building trust | James Davis | TEDxUSU

Summary

In this insightful script, the speaker delves into the critical role of trust in business success, highlighting its foundations in relationships. The exploration of trust's essence leads to the identification of three key drivers: ability, benevolence, and integrity. Through personal anecdotes and historical references, the speaker illustrates how these factors shape our willingness to be vulnerable and take risks, ultimately building trust and fostering a more harmonious society.

Takeaways

• 🤝 Relationships are the core of business success, driving performance, efficiency, and effectiveness.
• 🔍 Trust is identified as the essence of all relationships, but it lacks a clear definition and is used and understood in various ways.
• 🌟 World leaders and companies are often ranked based on their influence and trustworthiness, but this doesn't always correlate with moral values.
• 📚 The speaker and colleagues embarked on a research journey to understand the concept of trust due to its ambiguous nature.
• 🚀 Trust is described as a willingness to be vulnerable and take risks with another party, highlighting the importance of vulnerability and risk in building trust.
• 🏔 A personal story about paragliding illustrates the quick judgment of trust based on appearance and behavior, emphasizing the role of snap judgments in trust decisions.
• 🧭 Trust is influenced by three main factors: ability, benevolence, and integrity, which are perceived differently by each individual.
• 🛡 Ability refers to the competence and capability of a person to perform a task, which is crucial for trust but is situation-specific.
• ❤️ Benevolence is about caring for others, and it plays a significant role in building trust as people are more likely to trust those who genuinely care about them.
• 🏅 Integrity is about having and living by a set of values that others agree with, and it is a key driver of trust as people trust those who are consistent with their values.
• 🌐 Trust is not just about personal traits but is also influenced by societal and cultural factors, as shown by the varying levels of trust around the world.

Q & A

What was the main topic of discussion among the professors 20 years ago?

The main topic of discussion was the essence of success in business and the role of relationships in driving company performance, efficiency, and effectiveness.

What did the professors conclude as the essence of relationships in business?

The professors concluded that trust is the essence of relationships in business.

Why did the professors decide to research trust?

They decided to research trust because they found that there was no clear definition of it and it was used and defined in myriad ways, which they didn't understand.

What did the professors find when they started looking at world leaders in terms of trust?

They found that the ranking of the most influential leaders did not necessarily reflect trustworthiness, as Adolf Hitler was ranked higher than Abraham Lincoln and Benjamin Franklin.

How do companies and brands build trust with their customers according to the script?

Companies and brands build trust by demonstrating reliability and consistency in their products and services, as well as by creating a sense of connection and care for their customers.

What is the definition of trust given in the script?

Trust is defined as a willingness to be vulnerable, which involves choosing to take risks and be vulnerable to another party.

What is the significance of the paragliding story in the script?

The paragliding story illustrates the concept of trust in action, showing how the perception of a person's ability, benevolence, and integrity can influence one's decision to trust them with their safety.

What are the three major drivers of trust as discussed in the script?

The three major drivers of trust are ability, benevolence, and integrity.

How is trust situation-specific according to the script?

Trust is situation-specific because one might trust a person in one context (e.g., paragliding) but not in another (e.g., fixing a car engine).

What is the role of integrity in building trust?

Integrity plays a crucial role in building trust as it involves having a set of values that others agree with and living by those values, which others can observe and believe in.

How can improving the perception of one's ability, benevolence, and integrity impact relationships and society?

Improving these perceptions can lead to stronger relationships, reduced friction, and an overall increase in trustworthiness, contributing to a happier and more harmonious society.