Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
Trust seems to be the key trait linked with leadership. A leader cannot lead if his followers do not trust him.
A leader discovers the employees’/followers problems and tries to solve them, but it is the trust that his followers hold on him which tells whether the leaders retrieve the knowledge and intellectuality required to solve the problems.
Trust can be defined as an optimistic belief that others will not perform (via words, acts, or final conclusions) in an opportunistic manner.
For trust to nurture, an appropriate atmosphere is needed. This responsibility rests with the leader in an organization. The employees will show absolute trust in the leaders when they observe ideal/excellent character in them.
Leaders play a crucial role in developing and maintaining trust of organizational employees.
Reliability, empathy and realization of individual/personal goals assist the leaders to gain trust of the employees/followers. When the employees show trust in a leader, they are ready to be exposed to the actions of the leader- self-assured that their interests and rights will not be harmed.
The primary facets of trust are:
A leader should keep his followers informed, be fair and objective, share his feelings, be honest, allow the followers to constantly direct their decisions, maintain their promises, and earn respect of the followers. All this will contribute in building trust upon the leaders.
A trust-centred leadership will offset worries, apprehensions, and low-morale by developing a trustworthy environment where employees feel secure, confident and keyed up. The employees will be ready to take initiative, give suggestions, share their views, feel unhesitant to take risk and will contribute completely in such an atmosphere of trust.
Due to instability and unpredictability of organizations today, building of trust between managers as leaders and their employees is essentially required.
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