New Results from Experimental and Behavioural Economics A Culture of Trust as a Competitive Advantage in Digital Times
For companies, a lived culture of trust is an important competitive advantage. Particularly in an era of digitalization and increasing complexity, trust provides a sound basis for successful cooperation.
- Dominik Enste / Mara Grunewald / Louisa Kürten ·
- IW-Trends ·
- 10 Jul 2018
By contrast, when a firm's culture is determined by controls and compliance mechanisms, employee satisfaction and motivation decline, and conflicts between staff and their superiors become more common. To explore the future of the culture of trust in German companies, this study carried out experiments in behavioural economics with junior managers. The results show that young junior managers have a high degree of trust, are willing to cooperate and behave fairly.