Three Stages of Trust Building of International Small- and Medium-Sized Enterprises

Nuntana Udomkit, Volkmar Ensslin and Roman Meinhold

Global Business Review, 2020, vol. 21, issue 4, 906-917

Abstract: 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.

Keywords: Trust; SMEs; internationalization; international SMEs; Thailand (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/0972150919856990 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:globus:v:21:y:2020:i:4:p:906-917

DOI: 10.1177/0972150919856990

Access Statistics for this article

More articles in Global Business Review from International Management Institute
Bibliographic data for series maintained by SAGE Publications ().