Article
Version 1
Preserved in Portico This version is not peer-reviewed
Exploring the Role of Trust in Supplier-Buyer Relationships
Version 1
: Received: 16 June 2024 / Approved: 17 June 2024 / Online: 17 June 2024 (08:07:50 CEST)
How to cite: Reynolds, S. Exploring the Role of Trust in Supplier-Buyer Relationships. Preprints 2024, 2024061113. https://doi.org/10.20944/preprints202406.1113.v1 Reynolds, S. Exploring the Role of Trust in Supplier-Buyer Relationships. Preprints 2024, 2024061113. https://doi.org/10.20944/preprints202406.1113.v1
Abstract
Trust plays a pivotal role in supplier-buyer relationships, influencing decision-making, collaboration dynamics, and organizational performance. This qualitative study explores the multifaceted nature of trust in supplier-buyer relationships across diverse industries. Through in-depth interviews and thematic analysis, the study examines how trust develops, evolves, and impacts business interactions. Participants from various organizational settings provided insights into the cognitive, affective, and behavioral dimensions of trust, highlighting its role as a strategic asset in fostering resilience and competitive advantage. Findings underscored the importance of transparency, communication, and shared values in building trust, with emotional bonds and cultural compatibility enhancing partnership longevity and mutual commitment. Challenges such as asymmetrical power dynamics, economic uncertainties, and regulatory pressures were identified as barriers to trust, necessitating proactive strategies and ethical standards to mitigate risks. Practical implications include promoting open communication, aligning incentives, and cultivating a culture of trust within supply chains to enhance operational efficiencies and innovation. Future research could explore the impact of digitalization, technological advancements, and cross-cultural differences on trust dynamics, further enriching our understanding of effective relationship management in global markets. By addressing these complexities and leveraging trust as a foundational element, organizations can navigate uncertainties and capitalize on opportunities for sustainable growth and collaboration in dynamic business environments.
Keywords
Trust; supplier-buyer relationships; qualitative research; organizational performance; resilience; collaboration
Subject
Business, Economics and Management, Business and Management
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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