The Value of Trust in Negotiations

In the world of negotiation, despite having valuable tools and intelligent individuals, failures occurred. The critical factor discovered was the lack of trust. A study by the World Economic Forum revealed a significant drop in trust levels globally. High trust in collaborations reduces transaction costs and increases profits, while low trust increases costs and reduces profits. Therefore, trust plays a crucial role in the success or failure of negotiations.

Transcript

Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.