Is it possible to build a trust based partnership between JV partners, between customers and suppliers, between an owner and employee?

In this materialistic world where people are more concerned about themselves, their profits and losses, success and complacency, happiness and contentment and amassing wealth and worldly pleasures by all means - it is a paradox to discuss trust or trusting someone on an individual level. The word ‘trust’ creates a bond and plants a firm belief in the reliability of an individual to have the ability or strength to execute or perform a task with righteousness. If a person trusts someone then he or she surrenders the ability of finding faults, otherwise it will not be possible to trust at all. Therefore, trust or trusting is a process of benevolence where a trustier reposes firm faith and confidence in a trustee ...

This world is abounding with opportunities and this is the reason that every time a new idea or product is introduced, it receives an overwhelming response from people and pundits alike. Markets around the world have always offered this opportunity and will remain susceptible to innovative ideas and approaches. It depends upon us how we want to capitalize this opportunity. Success is largely dependent upon our entrepreneurial quality, vision and capacity to take risk and execute the dream with strategic planning.

Sir Winston Churchill, former prime minister of UK quoted that "Success is not final and failure is not fatal". Every failure teaches us to correct and improve ourselves and then take the right step towards success. Hence, having failed once or twice should not dilute the entrepreneurial quality within us. Learning from our mistakes is the best way to understand the intricacies of the business and that helps us in moving steps further in the direction of success. Every failure makes us more resolute in achieving our goals ...

Smugness breeds complacency and denying this truth may be dangerous for any corporation. Becoming overconfident and content even with wrong decisions or actions and denying this fact for a long period of time may result in financial setbacks leading to bankruptcy. Bankruptcy is never an answer to complacency. If a lie is told a thousand times, it becomes the truth but in the corporate world wrong actions and not accepting reality may lead to huge financial losses. As a matter of fact, the act of declaring insolvency should be the last step when all resources for reviving the business are exhausted.

The state of insolvency does not come overnight but it is the outcome of a negligent and callous attitude towards managing a business. It is a process of incompetency and denial which results in making business sick. It happens due to mismanagement, misappropriation and lack of foresightedness. Companies also enter bankruptcy because of the overconfidence of a few and their haggard meritocracy ...

The word 'exploitation' connotes the tendency of human beings to take advantage of others or those who are physically, mentally or financially weak. On the flip side, the feeling of a superiority complex over others in terms of power, position and authority may also give rise to exploitable behaviour. Sometimes a difference in race, culture, language, gender and religion may also become a breeding ground for exploitation. This human indifference has been a part of human nature and is difficult to get rid of unless a strong value system is practiced or propagated.

The corporate world is also not devoid of this human culpability. Whether it is a large or a small corporation, private or public sector; exploitation of some kind is always present. This implacable practice is generally reflected in terms of hiring processes, job related responsibilities, salary, and benefits or in communications with each other. The exploiting tendencies can also be found in various departments of an organization and between different levels of employees and in their relationship. The tendency of exploitation cannot be diminished unless a corporate culture having a strong value system is created or put in place ...