Publication: Three Stages of Trust Building of International Small- and Medium-Sized Enterprises
Issued Date
2019-01-01
Resource Type
ISSN
09730664
09721509
09721509
Other identifier(s)
2-s2.0-85070290049
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Mahidol University
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SCOPUS
Bibliographic Citation
Global Business Review. (2019)
Suggested Citation
Nuntana Udomkit, Volkmar Ensslin, Roman Meinhold Three Stages of Trust Building of International Small- and Medium-Sized Enterprises. Global Business Review. (2019). doi:10.1177/0972150919856990 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/50481
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Title
Three Stages of Trust Building of International Small- and Medium-Sized Enterprises
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Abstract
© 2019 International Management Institute, New Delhi. In a globalized world, more and more firms inevitably have to deal with other businesses from a far distance that they perhaps have never met and thus hardly know each other. The escalating level of globalization of business has brought with it the increased importance of trust in international business. Various studies have confirmed the importance of trust as one of the key elements for a successful business partnership. However, less is known about how international small- and medium-sized enterprises (SMEs) develop and maintain trust. This research investigates the characteristics of trusted business partners and how trust is built and maintained over time. In-depth interviews were conducted with the management of 20 international SMEs in Thailand. The essences of trust, namely competency and professionalism, honesty and integrity, empathy and caring and three-stage model of trust building and maintaining in international business are proposed.